Core CPI logs steepest rise in 34 months in Aug.

September 29, 2017

TOKYO- Japan's core consumer price index in August marked the steepest growth in two years and 10 months, excluding effects from the April 2014 consumption tax increase, government data showed Friday.

The growth reflected rises in electricity fees and gasoline prices stemming from higher crude oil prices.

The core CPI, which excludes often volatile fresh food prices, rose 0.7 percent from a year earlier to 100.3 against 100 for the base year of 2015, the Ministry of Internal Affairs and Communications said.

The result matched the median forecast among the 21 economic research institutes surveyed by Jiji Press.

Energy prices, including electricity and gas fees as well as gasoline prices, jumped 7 percent. Food prices, excluding fresh food, increased 0.9 percent.

By contrast, mobile phone communications fees dropped 5.4 percent due to discount plans introduced by major carriers.

The overall CPI, including fresh food, grew 0.7 percent. Excluding fresh food and energy prices, the CPI rose 0.2 percent.

For Tokyo's densely populated 23 wards, the core CPI for September stood at 100 up 0.5 percent. Jiji Press