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MNI DATA IMPACT: Tokyo Aug Core CPI 0.7% Y/Y On Lower Energy

MNI (London)
     TOKYO (MNI) - Tokyo's annual consumer inflation rate, a leading indicator
of the national average, slowed to 0.7% y/y in August on the back of lower
energy costs, according to data released Friday by the Ministry of Internal
Affairs and Communications.
     The following are the key points:
     --Tokyo's core consumer price index (excluding fresh food) rose 0.7%
year-on-year in August, down from the 0.9% y/y growth recorded in July and met
the 0.7% y/y growth projected by an MNI survey. It was the 28th straight monthly
y/y rise since the 0.1% gain seen in May 2017.
     --Core-core CPI (excluding fresh food and energy) -- a key indicator of the
underlying trend of inflation -- rose 0.7% on year in August in Tokyo, down from
0.8% y/y last month.
     --Energy costs slowed to 1.1% in August from 2.5% last month, contributing
0.06 percentage point to the total Tokyo CPI, lower than the previous 0.13pp.
Processed food prices rose 1.0% y/y in August, slower than 1.2% y/y gain
reported in July. 
     --Household durable goods prices jumped to 10.6% y/y from 7.0% y/y reported
in July. Overseas tour prices decelerated to 4.1% y/y from previous 4.6% y/y.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |

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