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Japan March CPI +3.1% Y/Y; Energy Cost Down

JAPAN DATA
MNI (Singapore)
  • Japan's national average core consumer price index (excluding fresh food) rose 3.1% from the year earlier in March, same as the growth marked in February, marking the 20th increasing month.
  • Energy fell 3.8% y/y, slip further from the previous 0.7% y/y drop.
  • The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) increased 3.8% y/y, expanding from the 3.5% growth last month.
  • Prices for ex-perishables rose 8.2% y/y, faster than the 7.8% y/y increase in February.
  • Prices for household spending rose 9.4% y/y, slower than the 11.2% y/y growth reported in February, and prices for accommodation fell 0.6% y/y, easing from the previous 6.1% drop.

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