BUSINESS Japan's core consumer prices rise 0.8 pct on year in July

BUSINESS

Japan's core consumer prices rise 0.8 pct on year in July

Xinhua

14:46, August 24, 2018

TOKYO, Aug. 24 (Xinhua) -- Japan's core consumer prices increased in July from a year earlier, the government said in a report on Friday.

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Photo: Xinhua

According to the Ministry of Internal Affairs and Communications, Japan's core consumer prices rose 0.8 percent in July from a year earlier.

The statistics bureau said that a hike in energy costs was the main reason for consumer prices rising in the recording period.

The pace of increase in the nationwide consumer price index, excluding fresh food prices because of their volatility, stood unchanged from a 0.8 percent rise logged in June.

However, the reading is still way below the Bank of Japan's (B0J) lofty 2 percent inflation target.

Consumer prices excluding both fresh food and energy prices increased 0.3 percent from a year early the statistics bureau said, with prices rising for the 19th straight month.

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