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  HOME | Business & Economy (Click here for more)

Japanís Consumer Prices Rise for Ninth Consecutive Month

TOKYO Ė Japanís Consumer Price Index (CPI) rose by 0.7 percent year-on-year in September, mainly due to the rise in energy prices, the ninth consecutive rise, the Japanese government said on Friday.

The index thus maintained its growth since January, but was still far from reaching the 2 percent inflation rate target set by the Bank of Japan (BoJ).

The CPI, which excludes food prices due to their high volatility, remained flat compared to August, according to data published by the Statistics Bureau of Japan under the Ministry of Interior and Communications.

The 6 percent year-on-year increase in fuel, water and electricity prices was the main factor contributing to the rise in the CPI in September, followed by medical care prices which rose by 1.8 percent.

The most notable drop was registered in the clothing and footwear prices, which fell by 0.3 percent compared to the same month of the previous year.

Prices in Tokyo, where the analysis is for October, rose by 0.6 percent year-on-year and remained flat compared to August.

Prices in the metropolitan area of the capital are considered an advanced indicator of the development of the CPI in the whole country.

The Bank of Japan (BoJ) adopted a massive monetary stimulus plan in 2013 in order to achieve an inflation goal of 2 percent, although the drop in oil prices and the global economic slowdown have forced the government to postpone the deadline until 2019.

 

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