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Japan's core consumer prices up 2.9 pct in October

TOKYO
2023-11-24 09:47

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TOKYO, Nov. 24 (Xinhua) -- Japan's core consumer prices rose 2.9 percent in October from a year earlier, as price hikes continue in more products, 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, fastened from a 2.8 percent jump in September, and remained above the Bank of Japan's 2 percent inflation target for the 19th straight month.

The core-core CPI, which strips away both energy and food prices, rose 4 percent, the ministry said.

While durable goods witnessed a 3.2 percent increase during the reporting period, food costs increased by 7.6 percent.

Accommodation costs saw a notable 42.6 percent jump in October, in contrast to the previous year's sharp drop due to the government's post-COVID-19 discount program to spur tourism.
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