Government statistics show the core consumer price index (CPI), which excludes fresh food costs, rose by 2.8 per cent year on year (YoY) in September, slightly higher than a median market forecast of a 2.7 per cent gain but easing from August’s 3.1 per cent.
Prices of food and daily necessities continued to rise in the month, but at a slower pace than in August, a global newswire reported.
The core-core index, which does away with fresh food and fuel costs, rose by 4.2 per cent YoY in September, slowing from a 4.3 per cent gain in August.
The data will be among the indicators the Bank of Japan (BOJ) will assess at its two-day policy meeting ending on October 31.
With rising signs of consumers feeling the pinch from soaring prices as inflation-adjusted real wages keep dropping, some BOJ regional branch managers said consumers are turning more sensitive to price hikes and buying less items at supermarkets.
ALCHEMPro News Desk (DS)
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