JEQ - Japan's inflation rate continue to ease in November as food price hikes slow
2023-12-22 01:18:49 ET
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The annual inflation rate in Japan dropped to 2.8% in November 2023 from 3.3% in the prior month, pointing to the lowest print since July 2022 as food prices rose the least in 10 months.
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Core inflation rate declined to 2.5%, the lowest in 16 months, from 2.9%, matching consensus, but stay outside the Bank of Japan's 2% target for the 20th month.
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On a monthly basis, consumer prices decreased 0.1%, the first drop since February, after a 0.7% gain in October.
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Food prices in Japan rose by 7.3% from a year earlier in November 2023, easing from an 8.6% increase in the previous month and marking the softest gain since January. It was the 27th straight month of food inflation, with cost moderating for most components.
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Currency: ( USD:JPY )
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More on Japan economy:
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Japan's November trade deficit narrows amid dip in exports dented by weak demand from China
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Bank of Japan maintains ultra-loose monetary policy; no change to dovish policy guidance
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Japan producer prices rise by 0.8% y/y in October, lowest in three years
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Japan's inflation rate continue to ease in November as food price hikes slow