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Japan Consumer Prices Rise 1.8% in July as Food Costs Climb

TOKYO - Japan's nationwide core consumer price index rose 1.8% in July from a year earlier, with the pace of inflation accelerating for a second consecutive month as higher food prices and a rebound in energy costs outweighed a sharp decline in rice prices.

The index, which excludes volatile fresh food prices, increased 1.8% from July last year, according to data released by the Internal Affairs and Communications Ministry.

The rate of increase was 0.2 percentage point higher than the 1.6% recorded in June, marking the second straight month of acceleration.

By category, food excluding fresh items rose 3.0% from a year earlier, helping push up the overall index.

Prices for imported beef increased 11.0% from a year earlier as the weaker yen raised import costs.

Energy prices rose 0.6%, reversing a 0.4% decline in June, as the pace of decreases in electricity and city gas charges narrowed.

Rice prices, however, fell 11.6% from a year earlier, marking their steepest decline in 20 years.

Source: TBS

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