MNI BRIEF: Japan's Feb Trimmed Mean Growth Moderates - BOJ

Japan's trimmed mean measure of underlying inflation rose 2.3% in February, slowing from 2.6% in January, showing pass-through of cost increases continued to slow as import prices fell y/y for the 11th straight month, data released by the Bank of Japan showed on Tuesday.

The trimmed mean print follows data released on Friday, which showed Japan's annual core consumer inflation rate rose 2.8% in February, up from January's 2.0%, the 23rd straight month above the 2% target.

Tuesday's data showed the mode, which is the inflation rate with the highest density in the distribution, stood at 2.0% in February, down from 2.3% the prior month, but above the BOJ's target for the 13th straight month.

BOJ officials are focused on whether the underlying inflation trend based on services prices strengthens in or after April when businesses revise their prices amid high labor costs. The BOJ exited its easy policy settings last week. (See MNI BOJ WATCH: Ueda Says Rate Path Will Depend On Prices)