Japan’s core consumer prices rose in September

October 28th, 2011 - 1:02 pm ICT by IANS  

Tokyo, Oct 28 (IANS) Japan’s core consumer price index (CPI) rose 0.2 percent in September from a year earlier, marking the third successive month of increase, authorities said Friday.

The CPI reading in the recording period, which excludes volatile fresh food prices, compares with median economists’ forecasts for a 0.1 percent rise in the recording period and follows a 0.2 increase logged in May, Xinhua reported.

The index in September came to 99.9 against the 2010 base of 100, the Ministry of Internal Affairs and Communications said in a report Friday.

Tokyo’s core CPI rose 0.3 percent month-on-month, standing at 99.8 according to preliminary data. Year-on-year however the index contracted 0.5 percent, following a downwardly revised 0.3 percent fall a month earlier.

The reading for the metropolis was in line with median market expectations.

Consumer prices in the Tokyo Metropolitan area are largely seen as precursor of prices across the country and Japan’s central bank pays particular attention to this leading indicator.

Local analysts have said that Japan’s CPI is set to continue an upward trend into the next month as power prices will likely increase due the fragile state of Japan’s nuclear power plants and the need to burn more fossil fuels at standard electrical plants.

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