Thursday, January 23, 2020 - 20:01

MNI DATA IMPACT: Japan Dec Core CPI Higher, Energy Costs Down

--Japan Dec Core CPI +0.7% Y/Y; MNI Median +0.7%; Nov +0.5%
--Japan Dec Core-Core CPI +0.9% Y/Y; Nov +0.8%
--Japan Dec CPI Energy Costs -0.6% Y/Y; Nov -2.1%

TOKYO (MNI) - Japan's December annual core consumer inflation rate accelerated from the previous month's level on the back of higher certain food prices, household durable goods and service prices, data from the Ministry of International Affairs and Communication released Friday showed.

The key points from the latest CPI data:

-- The national average core consumer price index (excluding fresh food) rose for a 36th straight month in December, rising 0.7% y/y, accelerating from a gain of 0.5% in November and in line with the MNI median forecast of a 0.7% gain.

-- Accelerating inflation rate was expected, as it had been indicated by the rise in the Tokyo core CPI for December (+0.8% in Dec. vs. +0.6% in Nov.).

-- rices for eating-out remained elevated in December, up 3.3% y/y, unchanged from November's level.

--Overall CPI rose 0.8% y/y in December, accelerating from a 0.5% gain in November.

-- The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) rose 0.9% y/y in December (vs. +0.8% in November), indicating continued corporate price hikes. It was the 30th consecutive year-on-year rise, the data showed.

-- Japan's core CPI rose 0.6% y/y across 2019, higher for a third straight year following a 0.9% gain in 2018. Core-core CPI rose 0.6% y/y in 2019 for the sixth straight rise following +0.4% in 2018.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email:
--MNI London Bureau; tel: +44 203-586-2225; email:

[TOPICS: MAJDS$,M$A$$$,M$J$$$]

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