Consumer prices in Japan fall for 2nd month
It was the 2nd straight month of decline as cost of housing and transport declined further while prices of food increased at a slower pace.
Year-on-year, cost declined for: fuel, light and water charges (-9.1 percent from -8.5 percent) and transport and communication (-2.5 percent from -3.0 percent).
In contrast, prices rose for: food (+1.3 percent from +2.6 percent), furniture and household utensils (+0.1 percent from +0.2 percent), clothes and footwear (+2.3 percent from +2.1 percent), medical care (+0.6 percent from +0.8 percent), education (+1.4 percent from +1.7 percent), culture and recreation (+2.1 percent from +1.7 percent) and miscellaneous goods and services (+1.1 percent from +0.8 percent).
Core consumer prices fell by 0.3 percent from a year earlier in April, the same figure as in March and market consensus of a 0.4 percent fall. The so-called core-core consumer prices, which excludes food and energy prices fell 0.7 percent year-on-year, the same pace as in March.
On a monthly basis, consumer prices rose 0.2 percent, compared to a 0.1 percent increase in the previous month.
In Tokyo, consumer prices dropped by 0.5 percent year-on-year in May, after declining 0.4 percent in April. Core consumer prices, which exclude fresh food, fell 0.5 percent from a year earlier, following a 0.3 percent drop in April. ■