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Japan January core CPI rises 0.8pc y/y

Published: February 22, 2019 12:24:09 | Updated: February 26, 2019 19:03:27


File Photo (Collected)

Japan's core consumer prices increased in January from a year earlier, the government said in a report on Friday.

According to the Ministry of Internal Affairs and Communications, core consumer prices rose 0.8 per cent in the recording month from a year earlier.

The statistics bureau said the pace of increase in the nationwide consumer price index, excluding fresh food items because of their volatility, followed a 0.7 per cent gain booked in December.

Although the latest data series showed that prices had increased for the 25th successive month, the figure is still languishing well below the Bank of Japan's (BOJ) lofty 2.0 per cent inflation target as the bank and the finance ministry continue to grapple with deflationary pressure, reports Xinhua.

Also weighing on prices is what the BOJ has described as the Japanese public's "deflationary mindset" which it has also been struggling to contend with.

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