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Japan annual core inflation accelerates in April

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Japan annual core inflation accelerates in April

Core consumer prices in Japan rose 0.9% annually in April, following a 0.8% increase in March, data from the Ministry of Internal Affairs and Communications showed.

The reading was in line with the Econoday consensus estimate.

The headline consumer price index rose 0.9% year over year in April, compared with a 0.5% gain in March. The Bank of Japan said in January that inflation in fiscal 2019 was expected to be between 1.0% and 1.3%.

Core prices, which exclude fresh food, rose 0.1% month over month in April, after seasonal adjustments.

Clothes and footwear prices increased 2% from the previous month, while prices of furniture and household utensils rose 0.7%. Food and housing prices both saw an increase of 0.1%.

Excluding fresh food and energy, consumer prices increased 0.6% annually and grew 0.1% month over month after seasonal adjustments.