Japan’s National CPI rise 0.4% y/y in June, outpaces expectations

FXStreet (Mumbai) – Japan’s national CPI rose 0.4% on year in June, the Ministry of Internal Affairs and Communications said on Friday.

That beat expectations for an increase of 0.3%, although it slowed from 0.5% in May.

On a monthly basis, inflation dipped 0.2%.

Core inflation, which excludes the volatile prices for fresh food, added 0.1 percent – unchanged from the previous month and above estimates for a flat reading. On a monthly basis, core inflation was flat.

However, household spending unexpectedly fell 2.0% y/y in June, sharply underperforming expectations for a 1.7% rise from a Reuters poll. That follows May’s 4.8% increase, which was the first y/y increase in the data since the country increased its consumption tax last year.

While the seasonally adjusted jobless rate rose to 3.4% in June, slightly above the 3.3% forecast in a Reuters poll.

Japan’s national CPI rose 0.4% on year in June, the Ministry of Internal Affairs and Communications said on Friday.

(Market News Provided by FXstreet)