Japan's core consumer prices up 2.2 pct on year in April-Xinhua

Japan's core consumer prices up 2.2 pct on year in April

Source: Xinhua

Editor: huaxia

2024-05-24 11:43:15

TOKYO, May 24 (Xinhua) -- Japan's core consumer prices rose 2.2 percent in April from a year earlier, with the pace of increase slowing for a second straight month due to milder food inflation, government data showed Friday.

The increase in the nationwide core consumer price index (CPI), excluding volatile fresh food, marked the 25th straight month the index has remained above the Bank of Japan's 2 percent inflation target after a 2.6 percent gain in March, according to the Ministry of Internal Affairs and Communications.

Core-core CPI, which excludes both fresh food and energy costs and is closely watched by the Bank of Japan as a key gauge of broader inflation trends, rose 2.4 percent, the slowest increase since September 2022, down 0.5 percentage points from the reading in March.

Among major items, food prices climbed 3.5 percent while accommodation fees rose 18.8 percent, amid a revival of inbound tourism.

Energy prices went up 0.1 percent, led by kerosene and gasoline, but electricity and city gas prices fell due to government subsidies to reduce utility bills.