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TOKYO (MNI)

Japan's September annual core consumer inflation rate posted the first y/y rise since March 2020, up 0.1% y/y , data from the Ministry of International Affairs and Communication released on Friday showed.

The September data was mainly boosted by higher energy and accommodations, which eased the negative contribution from lower mobile phone charges. Energy items rose 7.4% y/y in September and communications fell 44.8% y/y.

The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) fell 0.5% y/y in September, unchanged from August data. Despite weak core CPI, Bank of Japan officials maintained the view that the underlying price trend excluding special factors remains solid.

Processed foods, accounting for 15% of the total CPI and on which BOJ officials focus, rose 0.5% in September from +0.2% in August.


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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