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Japanese core consumer prices rise faster in November

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Japanese core consumer prices rise faster in November

Japan's core consumer prices, excluding fresh food, increased by an annual 0.9% in November before seasonal adjustment, compared with a 0.8% year-over-year increase in October, data from the Ministry of Internal Affairs and Communications showed.

Less fresh food and energy items, prices went up 0.3% in November from the year-ago period.

The Bank of Japan expects the country's consumer price index to continue rising toward the 2% target on the back of an improved output gap and increasing medium- to long-term inflation expectations.

With regard to household spending, the average of monthly consumption expenditures per household rose 1.7% in real terms in November from the previous year, the ministry said in a separate release. The average of monthly income per household climbed 1.8% in real terms in the month from the year-ago period.

Meanwhile, Japan's seasonally adjusted unemployment rate was at 2.7% in November, down from 2.8% in October, according to the ministry.