Japan: Core inflation inches up in January
The core consumer price index rose 0.2% in month-on-month seasonally-adjusted terms in January, contrasting December’s 0.3% drop.
Core inflation inched up from December’s seventh-month low of 0.7% to 0.8% in January. The reading was in line with what market analysts had expected. Nevertheless, inflation remained well below the Bank of Japan’s inflation target of 2.0%. Overall inflation declined from December’s 0.3% to an over one-year low of 0.2% in January.
Core inflation in the Ku-area of Tokyo rose from December’s 0.9% to 1.1% in January. Data for February will be released on 1 March.