Japan consumer inflation rises 2.6% in Mar., slows from Feb.

Apr 19, 2024 | News On Japan

TOKYO - Japan's consumer inflation rate rose in March, but the pace of the gain slowed from the previous month. The Consumer Price Index, which excludes fresh food, came in at 2.6 percent from a year earlier.

The government announced the latest inflation figure on Friday. It has now ranged between 2 to 3 percent for seven straight months.

The March index dipped 0.2 percentage points from the reading in February.

Officials say the slowing pace of inflation reflects lower energy costs.

A government program to subsidize household electricity and city-gas bills has put downward pressure on the index since February last year.

In addition, the inflation index for food slowed for the seventh straight month, coming in at 4.6 percent in March.

Fresh food items are excluded from this index because prices vary widely depending on the weather.

The fiscal 2023 Consumer Price Index was also announced.

The figure was up 2.8 percent from a year earlier, also a slower pace than the previous year.

Source: ANN

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