MNI BRIEF: Japan's Dec Trimmed Mean Rises 1.9% Vs. 1.7%
MNI (TOKYO) - Japan’s trimmed mean measure of underlying inflation rose 1.9% in December for the second straight rise following November’s 1.7%, indicating the pace of pass-through of cost increases caused by the weak yen and high labour costs continues, data released by the Bank of Japan showed on Tuesday.
The trimmed mean followed data released on Friday that showed Japan's annual core consumer inflation rate rose 3.0% y/y in December, up from November’s 2.7% for the second straight rise and above the BOJ's 2% target for the 33rd straight month.
Tuesday’s data showed the mode, which is the inflation rate with the highest density in the distribution, stood at 1.1% in December, unchanged from 1.1% in November.
The mode-based measure of underlying inflation was below the BOJ's 2% price target for the ninth straight month.
The Board hiked the policy rate 25 basis points to 0.5% last week. (See MNI BOJ WATCH: Ueda Flags More Hikes, No Clear Timeline)