7 years ago

Japan’s core consumer prices rise in October

File Photo (Collected)
File Photo (Collected)

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The core consumer prices in Japan rose in October from a year earlier, marking the 10th straight month of gains, but a narrower measure that excludes energy showed inflation has not accelerated for three consecutive months.

The core CPI rose 0.8 percent from a year earlier to 100.6 against 100 for the base year of 2015, up for the 10th straight month.

Household spending was unchanged in October from a year ago as increased spending on mobile phone plans offset a decline in spending on travel, reports Reuters.

Separate data released on Friday showed capital expenditure rose strongly in the third quarter, suggesting an upward revision to gross domestic product growth.

The nationwide core consumer price index rose 0.8 per cent in October from a year ago, due to gains in gasoline, kerosene, and healthcare costs, data showed on Friday.

Household spending was unchanged in October from a year earlier in price-adjusted real terms, compared with economists’ median estimate of a 0.4 per cent annual decline.

Japan’s jobless rate held steady at 2.8 per cent in October and the availability of jobs reached the highest in almost 44 years, separate data showed.

Capital expenditure rose 4.2 per cent in July-September, faster than a 1.5 per cent gain in April-June, another report from the finance ministry showed.


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