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Japan annual core inflation unchanged at 2-year low in July

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Japan annual core inflation unchanged at 2-year low in July

Japan's annual core inflation, which excludes prices of fresh food, remained at a two-year low of 0.6% in July, in line with the Econoday consensus estimate, data from the Ministry of Internal Affairs and Communications showed.

Fresh food prices dropped 0.7% year over year. The headline consumer price index increased 0.5% on an annual basis in July, slowing from the 0.7% rise recorded in June.

On an annual basis, housing prices rose 0.2% in July, while fuel, light and water charges climbed 2.0%. Prices of medical care increased by 0.6%, while transportation and communication prices fell 1.2%.

On a monthly basis, seasonally adjusted core prices dropped 0.1% in July, the same as in June.

Excluding fresh food and energy, consumer prices rose 0.6% year over year in July and climbed 0.1% on a monthly basis after seasonal adjustments.