Japan consumer inflation unchanged at 0.4% in June
28.07.2017, 05:13

Japan consumer inflation unchanged at 0.4% in June

The Ministry of Internal Affairs and Communications reported Friday that country's consumer prices rose 0.4 percent y-o-y in June, the same increase as in the two previous months and in-line with economists' forecast. Individually, the cost of utilities rose the most (+3.5 percent y-o-y), followed by food (+0.8 percent y-o-y) and education (+0.4 percent y-o-y). On the contrary, prices for furniture and household utensils fell the most (-0.8 percent y-o-y). The nationwide core consumer price gauge, which excludes volatile fresh food prices, also rose 0.4 percent y-o-y in June, unchanged from the previous month and in-line with economists' expectations. The figure remained at its highest level since March of 2015.

Meanwhile, core consumer prices in Tokyo, available a month before the nationwide data, rose 0.2 y-o-y this month following the flat reading in June, while economists had forecast a 0.1 percent y-o-y increase. Overall, Tokyo consumer price index edged up 0.1 percent y-o-y after being flat in June. That was in line with economists' estimate. The increase was led by higher cost of utilities (+3.6 percent y-o-y), followed by furniture (+1.2 percent y-o-y) and food (+0.4 percent y-o-y). At the same time, clothing prices recorded the biggest decline (-0.6 percent y-o-y).

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