BOJ's new index shows April consumer prices up 0.9 percent year-on-year
Reuters
Published May 27, 2016 01:13AM ET
BOJ's new index shows April consumer prices up 0.9 percent year-on-year
TOKYO (Reuters) - Japanese consumer prices rose 0.9 percent in April from a year earlier when stripping away the effect of energy and fresh food costs, a new indicator released by the Bank of Japan showed on Friday.
That followed a 1.1 percent annual rise in March.
The BOJ currently uses the government's core CPI, which excludes fresh food but includes energy costs, as its key price measurement in guiding monetary policy. That index fell 0.3 percent in April from the prior year, data released earlier on Friday showed.
With core CPI now stagnant due largely to slumping oil prices, the central bank has begun internally calculating a new index that shows inflation exceeding government data. That index strips away volatile fresh food and energy costs but includes processed and imported food prices, which are rising.
The BOJ has said it would release the index each month on the day the government publishes its price data.
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Written By: Reuters
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