19 December 2003, 10:27 Japan Nov CPI seen unchanged on year
TOKYO, Dec 19 - Japan's consumer price index was
probably unchanged in November from the same month last year,
held steady by one-off factors such as a rise in rice prices, a
poll showed on Friday.
The poll of 24 economists produced a median forecast for
nationwide core CPI of 0.0 percent change from a year earlier,
after a rise of 0.1 percent in October. The October figure was
the first positive figure in five-and-a-half years.
The core CPI excludes volatile fresh food prices.
The CPI figure is closely watched because the central bank
has vowed to keep its loose monetary policy framework in place
until year-on-year changes in the index stabilise above zero.
Analysts said the special factors that pushed the index into
positive territory in October -- higher tobacco prices, a rise in
the price of rice after a poor harvest and an increase in
healthcare costs -- would fade slightly in November.
"The upward push from higher rice prices and other special
factors will have run its course by October," said Takumi
Tsunoda, an economist at Shinkin Central Bank, which is
forecasting an unchanged index.
Core CPI for the Tokyo area in December is expected to fall
0.2 percent from a year ago after a drop of 0.2 percent in
November.
The government will announce the data on Friday, December 26
at 8:30 a.m. (2330 GMT Thursday).//
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