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Japan's core consumer prices rise 2.8 pct in February

TOKYO
2024-03-22 10:20

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TOKYO, March 22 (Xinhua) -- Japan's core consumer prices rose 2.8 percent in February from a year ago, accelerating for the first time in four months, with state subsidies to curb energy costs losing their effect to mask overall price increases, government data showed on Friday.

The country's core consumer price index, which excludes volatile fresh food, has been at or above the Bank of Japan's 2 percent inflation target for the 23rd straight month, following a 2.0 percent increase in January, according to the Ministry of Internal Affairs and Communications.

Major contributors to the gain included food and durable goods prices, as well as accommodation price hikes that reflected increased tourism demand.

Energy prices slipped 1.7 percent, compared with the 12.1 percent drop logged in January.

Core-core CPI, which strips away both energy and fresh food, is closely watched by the central bank as an indicator of broader price trends. It moderated to 3.2 percent in February from 3.5 percent in January.
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