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Japan Mar CPI -0.1% Y/Y; Energy Falls Easier

JAPAN DATA
MNI (Singapore)
  • Japan's national average core consumer price index (excluding fresh food) declined 0.1% y/y in March, easing from the previous fall of 0.4% y/y.
  • Energy fell 4.3% y/y, decelerating from last month's 7.2% y/y fall, contributing -0.34 percentage points to CPI.
  • The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) edged up 0.3% y/y, accelerating from the previous 0.1% y/y increase.
  • Prices for ex-perishables stayed unchanged, the same as in February.
  • Prices for household spending rose 4.4% y/y, and prices for accommodation wiped off the negative growth in March.

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