Japan Consumer Prices Fall for 1st Time Since May 2013

Consumer prices in Japan dropped by 0.1 percent year-on-year in March of 2016, compared to a 0.3 percent rise in February and missing market expectations. It is the first decline since May 2013 as prices of food eased while cost of housing and transport declined further.
Statistics Bureau of Japan l Rida Husna | rida@tradingeconomics.com 4/28/2016 3:11:51 AM
Year-on-year, cost declined for: housing (-0.1 percent in March from -0.1 percent in the preceding month); fuel, light and water charges (-8.5 percent from -7.3 percent) and transport and communication (-3.0 percent from -2.1 percent). In contrast, prices rose for: food (+2.6 percent from +2.7 percent), furniture and household utensils (+0.2 percent from +0.6 percent), clothes and footwear (+2.1 percent from +2.5 percent), medical care (+0.8 percent from +0.6 percent), education (+1.7 percent from +1.8 percent), culture and recreation (+1.7 percent from +2.2 percent) and miscellaneous goods and services (+0.8 percent from +0.7 percent).

Core consumer prices fell by 0.3 percent from a year earlier in March, after remaining unchanged in a month earlier and market consensus of a 0.2 percent fall. It is the fastest drop since April 2013. The so-called core-core consumer prices, which excludes food and energy prices rose 0.7 percent year-on-year, slowing from a 0.8 percent rise in February. 

On a monthly basis, consumer prices rose 0.1 percent, the same pace as in the previous month.

In Tokyo, consumer prices dropped by 0.1 percent year-on-year in March, after gaining 0.3 percent in February. Core consumer prices, which exclude fresh food, declined by 0.3 percent from a year earlier, the same pace as in the preceding month.


Japan Consumer Prices Fall for 1st Time Since May 2013