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Japan May CPI +3.2% Y/Y; 22nd Monthly Rise

MNI (Singapore)
  • Japan's national average core consumer price index (excluding fresh food) rose 3.2% from the year earlier in May, slower from the growth of 3.4% marked in April, marking the 22nd increasing month.
  • Energy fell 8.2% y/y, slip further from the previous 4.4% y/y drop.
  • The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) increased 4.3% y/y, expanding from the 4.1% growth last month.
  • Prices for ex-perishables rose 9.2% y/y, faster than the 9.0% y/y increase in April.
  • Prices for household spending rose 9.0% y/y, decelerating from the 9.8% y/y growth reported in April, and prices for accommodation increase 9.2% y/y, up from the previous 8.1% increase.

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