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Widespread Price Freeze Ahead Of Midterm Election

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  • Japan's national average core consumer price index (excluding fresh food) kept flat change from the year earlier in August, warming up from the previous 0.2% y/y decrease, marking the fourth recovering month.
  • Energy rose 5.5% y/y, down from the previous 5.8% y/y growth. contributing 0.39 percentage points to CPI.
  • The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) decreased 0.5% y/y, after dropping 0.6% y/y last month.
  • Prices for ex-perishables rose 0.3% y/y, quicker from last 0.1% y/y gain.
  • Prices for household spending rose 5.3% y/y, faster than the 4.4% y/y growth reported last month, and prices for accommodation surged 46.4% y/y in August.