Japan`s core inflation rises for 1st time in over a year

by Dramelin 6:30 PM 0 comments

Japan`s core consumer prices rose for the first time in over a year in January due to a pickup in energy costs and private consumption, offering some hope for the central bank`s efforts in accelerating inflation to its 2 percent target.
But household spending slumped in January even as the job market tightened further, underscoring the fragile nature of Japan`s economic recovery.
A separate index that excludes the effect of energy and fresh food prices, but includes processed food costs, was up 0.
2 percent in January from a year earlier, the government said.
The core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, rose 0.
1 percent in January from a year ago, government data showed on Friday, posting the first increase since December 2015.
It compared with a median market forecast for a flat growth and followed a 0.
2 percent drop in December.