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Japan Core Inflation Rises to 1.8% in March as Food Prices Jump
Food prices rose 5.2% year on year as energy costs eased, keeping headline inflation below the Bank of Japan’s 2% target.
- On Friday, government data showed Japan's core inflation accelerated to 1.8% in March, rising from 1.6% in February and matching economist expectations polled by Reuters.
- Food prices excluding fresh products jumped 5.2% year-on-year, driving the acceleration, while Japan depends on the Middle East for around 95% of its oil imports, increasing vulnerability to energy shocks.
- A Bank of Japan survey released Monday showed more than 83% of respondents expect higher prices within one year, while 'core-core' inflation dipped to 2.4% from February's 2.5%.
- Analysts expect the BOJ to hold rates at 0.75% when it meets next week, though Citi analysts said the anticipated hold is 'likely to be hawkish' due to yen depreciation concerns.
- Reuters reported Thursday that the BOJ plans to revise up its fiscal year inflation forecast, as Bank of America analyst Takayasu Kudo said energy price effects will intensify starting summer.
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Japan's core inflation stays below BOJ target, energy risks grow
Japan's core inflation slowed below the central bank's 2% target for a second straight month in March, data showed on Friday, as government fuel subsidies and moderating food inflation offset price pressures from the Iran war-induced energy shock.
·United Kingdom
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Japan March core CPI rises 1.8% yr/yr
TOKYO, April 24 : Japan's core consumer prices rose 1.8 per cent in March from a year earlier, government data showed on Friday.The core consumer price index, which includes oil products but excludes fresh food prices, compared with economists' median estimate for a 1.8 per cent annual gain.Stripping a
·Singapore
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Coverage Details
Total News Sources13
Leaning Left0Leaning Right1Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
C 83%
R 17%
Factuality
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