Japan Core Consumer Prices Up 2.7 Pct in Aug.

Tokyo, Sept. 19 (Jiji Press)–Japan’s core consumer price index rose 2.7 pct from a year earlier in August, extending its rising streak to a 48th month, the internal affairs ministry said Friday. Meanwhile, the growth rate shrank for the third straight month, falling below 3 pct for the first time in nine months, due to a decline in energy prices. The core CPI, which excludes often volatile fresh food prices, stood at 111.6 against the 2020 base of 100. Food prices, excluding fresh food, jumped 8.0 pct, decelerating for the first time in 13 months. Rice price inflation remained high at 69.7 pct, but slowed from the previous month’s 90.7 pct. Among rice-related items, onigiri prices were up 18.5 pct, and sushi prices at restaurants up 7.9 pct. This year’s newly harvested rice has just begun appearing on store shelves. Energy prices fell 3.3 pct, with electricity and city gas charges down 7.0 pct and 5.0 pct, respectively, thanks to government subsidies. Meanwhile, gasoline prices inched up 0.6 pct, the first increase in three months, due to higher crude oil prices. The overall CPI, including fresh food prices, rose 2.7 pct, while the price index excluding both fresh food and energy prices increased 3.3 pct. END [Copyright The Jiji Press, Ltd.]