MNI BRIEF: BOJ: Japan's Jan Trimmed Mean Rises 2.6% Vs. 2.6%

Japan's trimmed mean measure of underlying inflation rose 2.6% in January, unchanged from December's 2.6%, following September's record high of 3.4%, showing pass-through of cost increases continued slowing as import prices fell y/y for the 10th straight month, data released by the Bank of Japan showed on Thursday.

The trimmed mean follows data last Friday showing Japan's annual core consumer price index rose 2.0% in January, down from December's 2.3%, the 22nd straight month above the 2% target.

Thursday's data showed the mode, which is the inflation rate with the highest density in the distribution, stood at 2.3% in January, down from 2.4% in December. The mode-based measure of underlying inflation was above the BOJ's 2% price target for the 12th straight month.

BOJ officials are focused on whether the underlying inflation trend based on services prices will strengthen amid falling goods prices. (See MNI POLICY: BOJ April Action Will Hinge On CPI Result)