27 April 2001, 03:15  Japan March nationwide CPI down 0.1 pct mth-on-mth; down 0.4 pct yr-on-yr

TOKYO (AFX-ASIA) - The nationwide consumer price index in March fell 0.1 pct from February after falling by 0.3 pct month-on-month in February, the Ministry of Public Management, Home Affairs, Posts and Telecommunications said. The March CPI declined by 0.4 pct year-on-year following a 0.1 pct fall in February. In March, the core CPI, excluding fluctuations in fresh food prices, rose 0.1 pct month-on-month after declining by 0.2 pct in February, it said. Core CPI in March fell 0.6 pct year-on-year following a 0.6 pct fall the previous month, marking the 18th consecutive fall and the largest year-on-year fall on record, it said. In March, textile product prices fell 2.8 pct from a year earlier following a 2.2 pct fall in the previous month, while fuel product prices rose 4.3 pct year-on-year following a 5.1 pct rise the previous month. The Cabinet Office said it did not notice any fundamental change to the "somewhat weak" trend of overall prices. In the year to March 2001, nationwide CPI declined by 0.5 pct following a 0.5 pct fall in the previous year, the first time that the CPI has declined for the second straight fiscal year since the ministry began to compile the data in the present form in the year to March 1972. The core CPI declined by 0.4 pct in the year to March 2001 following a 0. 1 pct fall the previous year, also the first time that this index has fallen two consecutive years.

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