TOKYO :Core consumer inflation in Japan's capital Tokyo slowed in February as the effect of government energy subsidies kicked in, though an index stripping away the effect of fuel hit a fresh three-decade high in a sign of broadening inflationary pressure.Separate data showed Japan's jobless rate hit a three
TOKYO :Core consumer inflation in Japan's capital Tokyo slowed in February as the effect of government energy subsidies kicked in, though an index stripping away the effect of fuel hit a fresh three-decade high in a sign of broadening inflationary pressure.
"Inflation in the capital has fallen less than we expected last month, which suggests some upside risks to our forecast for inflation to fall below the Bank of Japan's 2 per cent target by mid-year," said Darren Tay, Japan economist at Capital Economics. The slowdown was mostly due to the effect of government energy subsidies to curb soaring utility bills, the data showed.
Energy costs rose 5.3 per cent in February from a year earlier, much slower than a 26.0 per cent spike in January. But ex-fresh food prices were up 7.8 per cent in February, faster than a 7.4 per cent rise in January. With inflation exceeding its 2 per cent target, the BOJ has seen its yield curve control come under attack from investors betting it will soon have to change policy and allow a near-term interest rate hike.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan's February service-sector activity grows at fastest rate in eight months - PMITOKYO : Japan's services sector activity grew at the fastest pace in eight months in February, a private sector survey showed on Friday, as the economic impact of the coronavirus pandemic receded globally.The final au Jibun Bank Japan Services purchasing managers' index (PMI) rose in February to a seasona
Read more »
Consumer inflation in Japan's capital city off 42-year peakTOKYO : Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose 3.3 per cent in February from a year earlier, slowing sharply from a nearly 42-year peak hit last month in a sign the boost from rising raw material costs may be ebbing.But inflation in Tokyo still exceeded the
Read more »
Indonesia's Feb inflation rises, but core inflation slows more than expectedJAKARTA : Indonesia's annual inflation picked up slightly in February, but its core inflation decelerated more than expected, data from its statistics bureau showed on Wednesday.The Consumer Price Index rose 5.47 per cent on a yearly basis in February, roughly in line with the median forecast in a Reuters
Read more »
BOJ's Takata: Must 'patiently' maintain ultra-loose policyTOKYO : Bank of Japan (BOJ) board member Hajime Takata said on Thursday the central bank must 'patiently' maintain its ultra-loose monetary policy, as Japan has yet to see inflation sustainably hit the bank's 2 per cent target backed by wage hikes.While Japan's economy is headed for a moderate recovery, i
Read more »
Malaysia's February palm oil exports rose 1.7 pct -SGSSINGAPORE, Mar 1 : Exports of Malaysian palm oil products for February rose 1.7 per cent to 1,131,939 tonnes from 1,113,292 tonnes shipped during January, cargo surveyor Societe Generale de Surveillance said on Wednesday.Breakdown of SGS palm export figures for February compared to a month ago (in tonn
Read more »
Wettest February day recorded on Feb 28, surpassing previous high in 1995The continuous rainy conditions are likely to gradually ease in March, says the Meteorological Service Singapore.
Read more »