Japan's core CPI rises again to 2.8% YoY in Feb

This is the first rise in four consecutive months as the impact of government energy subsidies introduced in February last year started fading.

The index was above the central bank’s 2-per cent target for the 23rd straight month.

Core-core CPI, which excludes both energy and fresh food, rose by 3.2 per cent, slowing for the sixth straight month, the ministry of internal affairs and communications said.

Energy prices fell by 1.7 per cent in February following a 12.1-per cent drop in January, according to media reports from the country.

Financial conditions will stay ‘accommodative’ for the time being, central bank chief Kazuo Ueda said.

ALCHEMPro News Desk (DS)