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Japan Oct CPI +2.9% Y/Y; Energy Price Narrows

MNI (Singapore)
  • Japan's national average core consumer price index (excluding fresh food) rose 2.9% from the year earlier in October, quicker from the growth of 2.8% marked in September, marking the 27th increasing month.
  • Energy fell 8.7% y/y, narrowing from the previous 11.7% y/y drop.
  • The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) increased 4.0% y/y, slowing down from the 4.2% growth last month.
  • Prices for ex-perishables rose 7.6% y/y, lower than the 8.8% y/y increase in September.
  • Prices for household spending rose 3.2% y/y, accelerating from the 1.5% y/y growth reported last month, and prices for accommodation increase 42.6% y/y, dramatically up from the previous 17.9% increase.

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