Japan's core consumer prices rise 2.3 pct in December
Jan 19, 2024
Tokyo [Japan], January 19: Japan's core consumer prices were up 2.3 percent in December from a year earlier, the government said in a report on Friday.
According to the Ministry of Internal Affairs and Communications, the pace of the increase in the nationwide consumer price index (CPI), excluding fresh food prices because of their volatility, slowed from 2.5 percent in November but remained above the Bank of Japan's 2 percent inflation target for the 21st consecutive month.
On a yearly basis, however, the figure increased 3.1 percent, the highest level since 1982 and above the BOJ's target for the second straight year.
The core-core CPI, which strips away both energy and food prices, rose 3.7 percent, underscoring persistent inflationary pressures, the data showed.
In a breakdown of items lifting the core CPI last month, food costs witnessed a 6.2 percent increase, while accommodation costs increased 59 percent as the tourism industry revived.
Due to government subsidies to reduce fuel costs, energy prices dropped 11.6 percent.
Source: Xinhua
