Japan’s January Consumer Prices Rise 2.0% as End of Gasoline Surtax Slows Growth

TOKYO, Feb 20 (News On Japan) - Japan’s nationwide consumer price index in January rose 2.0% from a year earlier, slowing from the previous month as lower energy prices, driven by the abolition of the provisional gasoline tax rate, helped ease inflationary pressures.

According to data released by the Ministry of Internal Affairs and Communications, the core CPI, which excludes volatile fresh food items, increased 2.0% compared with the same month a year earlier. The pace of growth narrowed by 0.4 percentage points from December’s 2.4%.

Energy prices fell 5.2% year on year, reflecting the impact of the scrapping of the temporary gasoline surtax. Gasoline prices alone dropped 14.6%, contributing significantly to the overall slowdown in inflation.

Meanwhile, food prices excluding fresh products continued to rise, climbing 6.2% from a year earlier. However, the rate of increase eased from 6.7% in December, indicating some moderation in food-related price pressures.

Source: テレ東BIZ

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