Tokyo Core Consumer Prices Rise 1.6 pct in June

Tokyo, June 26 (Jiji Press)–Core consumer prices in central Tokyo rose 1.6 pct in June from a year before, driven higher by surging crude oil prices amid the conflict in the Middle East, the Japanese internal affairs ministry said Friday. The pace of increase in the core consumer price index, which strips out volatile fresh food prices, in the capital’s densely populated 23 wards grew for the first time in eight months. The index stood at 112.2 against the 2020 base of 100, rising for the 58th consecutive month. Energy prices fell 2.3 pct, but the pace of decline slowed from a 3.7 pct decline in the previous month. Electricity prices dipped 2.0 pct after a 2.7 pct fall in May, and city gas rates fell 4.1 pct following a 4.9 pct drop. Gasoline prices dipped 1.3 pct after dropping 8.1 pct in May. Kerosene prices jumped 11.0 pct. Prices for food, excluding fresh food, rose 3.9 pct, marking the 10th straight month of slowdown. Rice prices fell 6.0 pct, the second consecutive decline. The overall CPI, which includes fresh food prices, rose 1.7 pct. The index, excluding fresh food and energy, went up 1.9 pct. END [Copyright The Jiji Press, Ltd.]