MNI BRIEF: Japan's Sept Trimmed Mean Rises 1.7% Vs. 1.8%
MNI (TOKYO) - Japan’s trimmed mean measure of underlying inflation rose 1.7% in September, slowing from August’s 1.8%, indicating the pace of pass-through of cost increases caused by the weak yen is slowing, data released by the Bank of Japan showed on Tuesday.
The trimmed mean followed data last Friday that showed Japan's annual core consumer inflation rate rose 2.4% y/y in September, down from August’s 2.8%, the first drop in five months, but above the Bank's 2% target for the 30th straight month.
Tuesday’s data showed the mode stood at 1.4% in September, rising from 1.3% in August, below the 2% handle for the seventh straight month.
BOJ officials judged the underlying inflation trend based on services prices is strengthening.
They are focused on the Tokyo October CPI due out on Friday and the nationwide October CPI to be published on Nov. 22. (See MNI POLICY: Weaker Yen Ups Dec Hike Chances But US Vote A Risk)