New Data on Japanese Inflation, Slowing in February?

New Data on Japanese Inflation, Slowing in February?

Jakarta, Reportase – Japan’s latest inflation data was announced, Friday (24/3/2023). It was reported that the inflation rate decreased to 3.3% in February 2023, from a 41-year high, which previously reached 4.3% in January.

This decrease occurred due to the lowest increase in the transportation and communication sector, in the last five months. In February the figure reached 1.7%, when compared to January 2.1%.

Quoting Tradung Economics, prices for fuel, lights and water also fell for the first time since May 2021. Where is fuel -0.3% from the previous 14.9%, electricity -5.5% from the previous 20.2% and gas 12.5% ​​from the previous 24.3%.

In contrast, inflation was unchanged for housing (at 1.3%), while clothing (3.6% vs 3.1%), furniture & household appliances (8.7% vs 7.7%), health care (0 .9% vs 0.5%), education (0.9% vs 0.7%), and others (1.3% vs 1.1%). However, food costs rose to a peak in September 1980, where they recorded a decent 7.5% in February, compared to 7.3% in January.

Core inflation rose 3.1% yoy. This was in line with expectations but still above the central bank’s target, the Bank of Japan, of 2% for the 11th straight month.

On a monthly basis, consumer prices fell 0.6% in February. This is the first decline since October 2021.

[Gambas:Video CNBC]

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