MNI 5 THINGS: Japan Dec Core CPI Slows On Energy, Fresh Food

--Japan Dec Core CPI +0.7% Y/Y; MNI Median +0.8%; Nov +0.9% 

--Japan Dec Core-Core CPI +0.3% Y/Y; Nov +0.3% 

--Japan Dec CPI Energy Costs +6.0% Y/Y; Nov +8.1% 

--Japan Dec CPI Food Ex-Perishables +0.7% Y/Y; Nov +0.9% 

--Japan Dec CPI Household Durable Goods 0.5% Y/Y; Nov -0.6% 

     TOKYO (MNI) - Japan's December annual core consumer inflation rate slowed

to an annual 0.7%, decelerating from the previous month's 0.9%, as prices on all

major items eased, data from the Ministry of International Affairs and

Communication released Friday showed.

     The key points from the latest CPI data:

     -- The national average core consumer price index (excluding fresh food)

rose 0.7% on year in December, recording the 24th straight year-on-year rise,

but still down from the 0.9% seen in the previous month and below the median of

0.8% in an MNI survey of analysts.

     - Overall CPI rose 0.3% on year in December, slowing sharply from last

month's 0.8% increase, reflecting widespread price easing across all items. The

slide was led by lower energy costs, which reported an annualised 6.0% gain

(+8.1% in November). 

     -- The underlying inflation rate measured by the core-core CPI (excluding

fresh food and energy) rose 0.3% on year in December, unchanged from last month,

the 18th consecutive year-on-year rise.

     -- Prices for overseas holidays and tours rose in December, a traditional

holiday season, to 15.2% from the 11.4% in November. Prices for accommodation

also supported CPI, rising 2.0% from November's 1.4%. 

     -- Core CPI for 2018 increased at the fastest pace in four years, up 0.9%

and higher than the 0.5% growth recorded in 2017. Core-core CPI increased 0.4%

in 2018, quicker than 0.1% last year.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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