26 January 2001, 16:44  Tokyo Consumer Prices Rise 0.3% in January, Led by Fresh Food

Tokyo, Jan. 26 (Bloomberg) -- Consumer prices in Tokyo, home to about one-quarter of Japan's population, increased for a third straight month in January,as the cost of fresh food rose. Prices rose 0.3 percent, seasonally adjusted, from December, thegovernment's statistics bureau said. Economists had expected prices to beunchanged after rising 0.1 percent last month. Taking out fresh food, pricesrose 0.2 percent this month from last month. Prices were 0.4 percent lower than a year ago, and have fallen from year-agolevels for a record 17 months. Consumer prices fell a record 1 percent lastyear. ``The decline in prices appears to be subsiding, but it's due to (one-off) factorssuch'' as costlier fresh food, said Masato Okamoto, head of governmentstatistics and research. ``Therefore, it is questionable to say the trend haschanged.'' This month, the cost of fish rose 4.1 percent from December, unadjusted,while fruit and vegetable prices rose 14 percent. The Bank of Japan says prices are falling mostly because of stiffercompetition and as companies cut costs as they become more efficient,rather than lackluster demand forcing retailers to drop prices to attractcustomers. Nationwide, consumer prices rose 0.1 percent in December from November,seasonally adjusted. Excluding fresh food, prices were unchanged. From ayear earlier, overall prices fell 0.2 percent and excluding fresh food dropped0.6 percent.

© 1999-2024 Forex EuroClub
All rights reserved