Japan Consumer Prices Unchanged At 0.4% In June

Overall nationwide consumer prices in Japan gained 0.4 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday – in line with expectations and unchanged from the previous month.

Nationwide core CPI, which excludes food prices, also gained 0.4 percent on year – again unchanged and as expected.

Individually, prices for fuel jumped 3.5 percent on year, followed by food (0.8 percent) and education (0.4 percent). Furniture prices slid 0.8 percent.

On a monthly basis, overall CPI and core CPI were both unchanged.

Individually, prices for fuel added 0.3 percent on month, and transportation prices were flat. Recreation costs fell 0.9 percent.

Overall inflation for the Tokyo region – considered a leading indicator for the nationwide trend – added 0.1 percent on year in July. That matched forecasts following the flat reading in June.

Core CPI for Tokyo added an annual 0.2 percent. That exceeded forecasts for a flat reading, which would have been unchanged.

Individually, prices for fuel spiked 3.6 percent on year, followed by furniture (1.2 percent) and food (0.4 percent). Clothing prices dipped 0.6 percent.

On a monthly basis, overall Tokyo CPI was flat, while core CPI added 0.1 percent.

Individually, prices for communications equipment jumped 0.7 percent on month, while clothing prices plummeted 3.5 percent.

Also on Friday, the Ministry said:
• The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in June, beneath expectations for 3.0 percent and down from 3.1 percent in May.

The job-to-applicant ratio came in at 1.51 – in line with forecasts and up from 1.49 in the previous month. The participation rate came in at 61.0, up from 60.8 a month earlier.

The number of employed persons in June was 65.83 million, an increase of 610,000 or 0.9 percent on year. The number of unemployed persons in June was 1.92 million, a decrease of 180,000 or 8.6 percent on year.

• The average of household spending in Japan was up 2.3 percent on year in June, standing at 268,802 yen. That was well above expectations for an increase of 0.5 percent following the 0.1 percent decline in May.

The average of monthly income per household stood at 735,477 yen, 0.1 percent on year. The average of consumption expenditures per household was 296,653 yen, up an annual 6.7 percent.

• Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in June – shy of expectations for a gain of 0.4 percent following the 1.5 percent decline in May.

On a yearly basis, retail sales climbed 2.1 percent – unchanged from the previous month but missing forecasts for 2.4 percent.

Large retailer sales added 0.2 percent on year, beating forecasts for a fall of 0.1 percent following the 0.6 percent drop a month earlier.

by RTT Staff Writer

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