Japan Overall CPI Rises 0.3% On Year In February

Japan Overall CPI Rises 0.3% On Year In February

25 March 2016, 05:32
Roberto Jacobs
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Japan Overall CPI Rises 0.3% On Year In February

Overall nationwide consumer prices in Japan gained 0.3 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday.

That was in line with forecasts following the flat reading in January.

Core inflation, which excludes the volatile costs of food, came in flat - again matching forecasts and unchanged from the previous month.

Among the individual components, food prices climbed 2.7 percent on year, followed by clothing (2.5 percent), recreation (2.2 percent), education (1.8 percent) and furniture and medical care (each 0.6 percent).

Fuel prices tumbled an annual 7.3 percent and communications costs fell 2.1 percent.

On a monthly basis, overall inflation added 0.1 percent and core CPI was flat.

Individually, recreation prices added 0.9 percent on month, followed by food (0.6 percent) and clothing and education (each 0.5 percent).

Fuel prices dropped 0.8 percent on month, while communications costs fell 0.6 percent and medical care eased 0.1 percent.

Overall CPI in the Tokyo region, considered a leading indicator for the nationwide trend, dipped 0.1 percent on year in March - missing forecasts for an increase of 0.1 percent, which would have been unchanged.

Tokyo's core inflation slid 0.3 percent on year versus expectations for -0.2 percent and down from -0.1 percent in February.

Individually, prices for food climbed 2.2 percent on year, followed by recreation (1.8 percent), clothing 1.4 percent), education (1.3 percent), furniture (1.2 percent) and medical care (1.1 percent).

Fuel costs plummeted an annual 12.0 percent on year and communications costs slid 1.5 percent.

On a monthly basis, overall inflation and core CPI both added 0.3 percent.

Individually, prices for clothing jumped 3.6 percent on month, followed by furniture (0.9 percent), recreation (0.8 percent) and communication (0.3 percent).

Fuel prices fell 0.9 percent on month and food prices dipped 0.1 percent. Housing and education were flat.

Also on Friday, the Bank of Japan said that producer prices were up 0.2 percent on year in February.

That was in line with expectations following the upwardly revised 0.3 percent gain in January (originally 0.2 percent).

On a monthly basis, producer prices were flat following the 0.5 percent decline in January.

Individually, prices for advertising, leasing and transportation were down - while information and communications prices moved slightly higher.

The material has been provided by InstaForex Company - www.instaforex.com

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