Japan Inflation Rate Steady at 0.7% in September
Consumer prices in Japan rose 0.7 percent year-on-year in September of 2017, the same as in the prior month and matching market consensus. Prices of food increased at a faster pace while cost of transport was flat and cost of housing continued to fall.
In September, prices of food increased at a faster 1 percent from a year earlier (from 0.9 percent rise in August), namely, fresh food (1.2 percent from 0.8 percent), fish and seafood (5.6 percent from 4.2 percent) and fresh fruits (3.6 percent from 3.4 percent). In addition, prices fell at a slower pace for dairy product and eggs (-0.4 percent from -0.6 percent).
Meantime, prices increased more than in a month earlier for: fuel, light and water charges (6 percent from 5.2 percent in August), mainly due to higher electricity cost (7.9 percent from 7.0 percent).
On the other hand, cost went up at a slower pace for culture and recreation (0.2 percent from 0.4 percent); inflation was steady for education (0.4 percent), medical care (1.8 percent); and prices of transport & communication were flat (from -0.4 percent). Also, cost fell for: housing (-0.2 percent from -0.2 percent), furniture and household utensils (-0.2 percent from -0.2 percent), and clothing and footwear (-0.3 percent from 0.6 percent).
Core consumer prices, which exclude fresh food, rose 0.7 percent on the year, the same pace as in August and below market estimates of a 0.8 percent rise. It still remained the highest level since March of 2015.
On a monthly basis, consumer prices were flat compared to a 0.2 percent rise in the preceding month.
In Tokyo, consumer prices fell 0.2 percent year-on-year while markets estimated of a 0.1 percent increase. Core consumer prices, which exclude fresh food went up by 0.6 percent and above market consensus of a 0.5 percent rise.
10/27/2017 9:35:39 AM