MNI DATA IMPACT: Japan Mar Core CPI Edge Down; Energy Drops

     TOKYO (MNI) - Japan's annual core consumer inflation rate edged down in

February due a rapid fall in energy prices, according to data from the Ministry

of International Affairs and Communication released on Friday.

     The key points from the latest CPI data:

     -- The national average core consumer price index (excluding fresh food)

rose 0.4% y/y in March, in line with the MNI median forecast and slower than the

previous 0.6% y/y gain. The increase marks the 39th straight monthly rise.

     -- Energy costs dipped again by 1.7% y/y from the 0.2% y/y fall reported

last month, contributing -0.13 percentage point to CPI against the -0.01

percentage point contribution last month.

     --Overall CPI increased 0.4% y/y in March, unchanged from February.

     -- The underlying inflation rate measured by the core-core CPI (excluding

fresh food and energy) rose 0.6% y/y, the same as the previous month, marking

the 33rd consecutive year-on-year rise, the data showed.

     -- Prices for ex-perishables grew 1.6% y/y in March, down from 1.8% y/y in

February. Prices for household spending slowed down to 0.0% y/y from the

previous 0.3% y/y gain. Overseas holiday tour prices dropped 5.9% y/y, a smaller

dip than February's 9.6% y/y fall.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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