MNI DATA IMPACT: Tokyo May Core CPI Slows To +1.1% Y/Y

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

of the national average, slowed to 1.1% y/y in May on the back of lower energy

costs, according to data from the Ministry of Internal Affairs and

Communications released Friday.

     The following are the key points from the latest Tokyo CPI data:

     --Tokyo's core consumer price index (excluding fresh food) rose 1.1%

year-on-year in May, slower than the 1.3% growth projected by an MNI survey and

also reported last month. It was the 25th 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 May in Tokyo, down from

April's 0.9% increase.

     --Energy costs decelerated to 5.7% in May from 7.5% last month,

contributing 0.30 percentage point to the total Tokyo CPI (0.38% in Apr).

Overseas tour prices dropped 6.6% y/y from 15.1% y/y reported in April.

     --Processed food prices rose 1.2% y/y in May, higher than April's 1.1% y/y

growth. Household durable goods prices quickened to 13.9% in May after last

month's 12.9% gain. 

--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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