Japan Core Consumer Prices Rise 1.4 Pct in May

Tokyo, June 19 (Jiji Press)–Japan’s core consumer prices in May rose 1.4 pct from a year earlier, growing for the 57th consecutive month, the internal affairs ministry said Friday. The pace of increase in the core consumer price index, which excludes volatile fresh food prices, was unchanged from the previous month and matched the median forecast of 17 economic research institutes surveyed by Jiji Press. The core CPI stood at 113.0 against the 2020 base of 100. Food prices, excluding fresh produce, grew 3.5 pct, led by a 25.8 pct rise in chocolate and a 37.9 pct gain in coffee beans. But the pace of rise slowed for the 10th straight month. Rice prices fell 4.9 pct, marking their first decline in 42 months, as they have begun to stabilize after surging to historic highs last year. Energy prices went down 2.5 pct. Gasoline prices dropped 7.0 pct, driven lower by government subsidies aimed at cushioning the impact of the conflict in the Middle East. Prices for propane gas gained 2.6 pct because of higher liquefied petroleum gas prices. Mobile phone communication charges climbed 11.0 pct after major operators introduced new pricing plans. Accommodation fees went up 4.8 pct on the back of increased travel demand led by visitors from abroad. The overall CPI, including fresh food, rose 1.5 pct, while the index excluding fresh food and energy climbed 1.8 pct. END [Copyright The Jiji Press, Ltd.]