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MNI BRIEF: Japan Feb Core CPI Rises 2.8% Vs. Jan 2.0%

(MNI) TOKYO

The year-on-year rise of Japan's annual core consumer inflation rate accelerated to 2.8% in February from January's 2.0%, 10 basis points lower than expected, data released by the Ministry of Internal Affairs and Communications showed Friday.

The print remained above the Bank of Japan’s 2% target for the 23rd consecutive month.

The underlying inflation rate measured by core-core CPI (excluding fresh food and energy) rose 3.2% in February, slowing from January's 3.5% for the sixth straight deceleration.

The BOJ on Tuesday phased out its easy policy settings based on its judgment the economy will achievement the bank’s 2% price target. (See MNI WATCH: BOJ Nears Negative Rates Exit After Wages Survey)

Services prices, a key factor for the BOJ's focus on wages and prices, rose 2.2% y/y in February, unchanged from 2.2% in January.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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