2023-03-24 01:05:41 ET
- The annual inflation rate in Japan fell to 3.3% in February 2023 from January's 41-year high of 4.3%.
- The latest figure also marked the lowest print since last September, as cost of transport rose the least in 5 months (1.7% vs 2.1% in January); while prices of fuel, light, and water charges dropped for the first time since May 2021 (-0.3% vs 14.9%), mainly electricity (-5.5% vs 20.2%) and gas (12.5% vs 24.3%).
- Core consumer prices went up 3.1% Y/Y, the least in 5 months, matching forecasts but above the Bank of Japan's 2% target for the 11th straight month.
- On a monthly basis, consumer prices declined by 0.6% in February, the first fall since October 2021.
- The so-called core-core CPI, which strips out energy and food prices but includes alcoholic beverages, rose 3.5 per cent, the fastest year-on-year increase since January 1982.
- Even the CPI that excludes all types of food and energy grew 2.1 per cent, exceeding the BoJ’s target.
- ETFs: JEQ , EWJ , DXJ , FXY .
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Japan inflation rate eases from 41-year high to 3.3% in February