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MNI BRIEF: Japan Jan Tokyo CPI Rise Slows On Accommodations

Policy
TOKYO (MNI)

The Tokyo core inflation rate rose 0.2% y/y in January for the fifth straight gain, but slowed from (December) as the positive contribution from accommodations waned, data from the Ministry of Internal Affairs and Communications showed on Friday.

The core-core CPI (excluding fresh food and energy) -- a key indicator in the underlying trend of inflation – fell 0.7% y/y in January following -0.3% in December. Accommodations prices edged up 0.6% y/y in January, sharply down from +44.0% in December due to a fading price impact from a year earlier under the government's Go To Travel campaign.

Processed food prices in Tokyo that BOJ officials are focused on as sensitive to economic activity rose 1.2% in January, up from a 0.8% gain in December.

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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