Japan’s Inflation Accelerates to 1.6 Pct in June

Tokyo, July 24 (Jiji Press)–Japan’s core inflation accelerated for the first time in three months in June as electricity fees and housing repair and maintenance costs rose from the previous month because of higher oil and material prices, the internal affairs ministry said Friday. The core consumer price index, which excludes volatile fresh food prices, rose 1.6 pct from a year earlier to 113.1 against the 2020 base of 100, following a 1.4 pct rise in May. The index marked the 58th consecutive month of growth. Energy prices fell 0.1 pct, smaller than a 2.5 pct drop in May. Electricity fees fell 1.7 pct, against a 2.4 pct decrease in the previous month. Gasoline prices went down 0.7 pct, following a 7 pct drop. Kerosene prices rose 16.5 pct, compared with a 12.4 pct increase. Food prices excluding fresh items grew 3.1 pct, with the pace of increase slowing for the 11th straight month. Rice prices fell 8.7 pct, dropping for the second consecutive month, after they surged to historic highs last year. Housing repair and maintenance fees gained 3.6 pct, pushed up by higher exterior painting costs. The overall CPI, including fresh food, and the index excluding fresh food and energy both climbed 1.7 pct. END [Copyright The Jiji Press, Ltd.]