Japan's core consumer prices up 2 pct in January

Tokyo [Japan], February 27: Japan's core consumer prices rose 2 percent in January from a year earlier, the government said in a report on Tuesday.
According to the Ministry of Internal Affairs and Communications, the pace of the increase in the nationwide core consumer price index (CPI), excluding fresh food prices because of their volatility, slowed from the 2.3-percent increase in December.
The reading, although higher than expected, met the Bank of Japan's 2-percent inflation target for the first time in nearly two years.
The core-core CPI, which strips away both energy and food prices, rose 3.5 percent, underscoring persistent inflationary pressures, the data showed.
In the recording period, food prices rose 5.9 percent, while accommodation costs increased 25.9 percent year-on-year.
Due to government subsidies to reduce fuel costs, energy prices continued a downward trajectory, dropping 12.1 percent, the data showed.
Source: Xinhua