In Japan, in April, the key inflation indicator rose by 0.7% - Ester Holdings

In Japan, in April, the key inflation indicator rose by 0.7%

Investing.com – Consumer prices excluding fresh food in Japan, the key inflation indicator, monitored by the Central Bank of the country, in April 2018 grew by 0.7% in annual terms, according to the Ministry of Internal Affairs and Communications of the country.

The rise slowed from the March level of 0.9% and was weaker than the experts expected (0.8%).

The index excluding food and energy carriers slowed last month to 0.4% from 0.5% in March.

“The Bank of Japan’s 2% inflation target is still out of reach,” said Capital Economics analyst Marcel Tielan.

The overall annual inflation rate in Japan in April was 0.6%, down from 1.1% in March.

Prices for food products in the country rose last month by 0.7% compared to the same period a year earlier, while fresh products fell 1.5%.

Clothing and footwear went up by 0.1%, everyday goods – fell by 1.5%.

Experts note that the Japanese Central Bank is likely to continue to adhere to the current policy, maintaining a negative interest rate on deposits and continuing large purchases of government securities. Inflation data is not so weak that it could push the Bank of Japan to increase incentives, they say.

The rise in oil prices in recent years is likely to support inflation, as it contributes to the increase in the cost of gasoline and consumer goods, Dow Jones quoted the representative of the Japanese Ministry of Internal Affairs and Communications.

Statistics, published earlier this week, pointed to the first decline in the country’s economy since the end of 2015. Japan’s GDP in the first quarter of 2018 declined by 0.6% in annual terms after an increase of 0.6% in the previous quarter.

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