— See Separate Table For Details Of Individual Economist Forecasts
TOKYO (MNI) – Japan’s core consumer price index for November is
expected to show a 0.2% fall from a year earlier, posting the second
consecutive monthly y/y fall, after -0.1% in October and +0.2% in
September, according to the median forecast of economists polled by
Market News International.
The Ministry of Internal Affairs and Communications will release
the CPI data at 0830 JST on Wednesday, Dec. 28 (2330 GMT Tuesday).
The November Core CPI (excluding perishables) is expected to show
the largest y/y drop since -0.2% in June.
The y/y fall in the November core CPI is expected to have been
larger than that in October, as core central Tokyo CPI, which is seen as
a leading indicator of national CPI, fell 0.5% on year in November, with
the pace of decline accelerating from -0.4% in October.
Also, the average retail price of regular gasoline in Japan rose
8.0% in early November from a year earlier, slowing from +9.2% y/y in
early October, data released by the Oil Information Center showed.
Looking ahead, Taro Saito, senior economist at NLI Research
Institute, said, “Year-on-year fall in core CPI is expected to expand
from the next spring onward, due to slowing domestic economy and the
lingering yen appreciation.
Tokyo core CPI for December, which will be released with November
national price data, is forecast to show a 0.4% drop on year, posting
falls for 32 months in a row, after -0.5% in November and -0.4% in
October.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]