MNI DATA IMPACT: Tokyo July Core CPI Steady At 0.9% Y/Y

     TOKYO (MNI) - Tokyo's annual consumer inflation rate, a leading indicator

of the national average, was unchanged at 0.9% y/y in July 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 0.9%

year-on-year in July, unchanged from June and outpacing the 0.8% y/y growth

projected by an MNI survey. It was the 27th 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 0.8% on year in July in Tokyo, also

unchanged from last month.

     --Energy costs slowed to 2.5% in July from 3.5% last month, contributing

0.13 percentage point to the total Tokyo CPI, lower than the previous 0.18pp.

Household durable goods prices slid to 7.0% y/y from 7.9% y/y reported in June.

     --Processed food prices rose 1.2% y/y in July, the same as seen in June.

Accommodation prices and overseas tour prices decelerated to 0.5% y/y and 4.6%

y/y from previous 2.1% y/y and 6.2% y/y, respectively.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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