31 August 2001, 13:25  Japan July nationwide CPI down 0.3 pct mth-on-mth; down 0.8 pct yr-on-yr

TOKYO (AFX-ASIA) - The nationwide consumer price index in July fell 0.3 pct month-on-month after falling 0.3 pct in June, the Ministry of Public Management, Home Affairs, Posts and Telecommunications said. July CPI dropped 0.8 pct year-on-year following a 0.8 pct fall in June, marking its 23rd straight monthly fall, the ministry said. The ministry changed its calculation standard to year 2000 standard from the year 1995 standard previously, it said. The Cabinet Office said the new calculation standard shows a current moderate deflation trend, which Japan is encountering more clearly. In July, core CPI, which excludes fluctuations in fresh food prices, fell 0.2 pct month-on-month after falling 0.1 pct in June, it said. Core CPI in July fell 0.9 pct year-on-year following a 0.9 pct fall the previous month, it said. A ministry official said the overall CPI was dragged down by an average 0. 3 points due to the change in the calculation standard. Under the old standard, July CPI was down 0.8 pct year-on-year, while core CPI was down 0.7 pct, the official added. In July, household products prices fell 3.5 pct year-on-year, compared with a 3.5 pct fall in June, while textile products prices fell 2.1 pct year-on-year, compared with a 2.2 pct fall in June, the ministry said.

© 1999-2024 Forex EuroClub
All rights reserved