MNI DATA IMPACT: Tokyo April Core CPI Down; Energy, Food Slows

     TOKYO (MNI) - The annual consumer inflation rate in Tokyo, a leading

indicator of the national average, slowed for the fourth consecutive month in

April on sliding prices for food and energy, data from the Ministry of Internal

Affairs and Communications showed on Friday.

     These are the key points from the latest Tokyo CPI data:

     --The Tokyo core consumer price index (excluding fresh food) declined 0.1%

y/y in April, a lower print than the MNI median forecast of 0.1% y/y growth and

the previous month's 0.4% y/y gain. 

     --Energy costs dipped further, falling 4.3% y/y after last month's 3.8% y/y

fall. This contributed a negative 0.24 percentage points to total Tokyo CPI,

lower than the negative 0.21 percentage points seen last month.

     --Processed food prices rose 1.4% y/y, down from the previous 1.8% y/y

gain, contributing 0.30 percentage points to total CPI, less than the 0.38

percentage points contribution in February.

     --Prices for household durable goods fell 4.1% y/y, compared with March's

1.7% y/y drop. Prices for overseas tours plunged 11.7% y/y from the previous

5.9% y/y drop.

     --The core-core CPI (excluding fresh food and energy) -- a key indicator in

the underlying trend of inflation -- rose 0.2% y/y in Tokyo in April, down from

last month 0.7% y/y growth.

--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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