FOREX TradingCharts.com

Financial News: Tokyo Core Inflation Softens In March

Tokyo Core Inflation Softens In March

03/29/2024 - 06:05:00 (RTTNews)

(RTTNews) - Core inflation in Japan's capital softened in March but continued to remain above the 2 percent target adding to the dilemma of the Bank of Japan as to how to steer the monetary policy after exiting negative interest rates earlier this month.

Core inflation that excludes fresh food eased slightly to 2.4 percent, as expected, from 2.5 percent in February, data from the Ministry of Internal Affairs and Communications revealed Friday.

Likewise, inflation excluding fresh food and fuel prices, weakened to 2.9 percent from 3.1 percent in the previous month.

Meanwhile, overall inflation rose to 2.6 percent from 2.5 percent in the previous month.

The March Tokyo CPI supports the assessment that the Bank of Japan won't tighten monetary policy any further, Capital Economics economist Marcel Thieliant said.

Earlier this month, the BoJ had raised its interest rates for the first time since 2007. The overnight interest rate was raised to around 0 to 0.1 percent from minus 0.1 percent.

With stronger-than-expected wage negotiation results for the fiscal year 2024, the central bank's sustainable inflation growth target is achievable this year, ING economist Min Joo Kang said.

The BoJ will pay more attention to the improvement in retail sales and sticky inflation data than to weak industrial output and labor results driven by an idiosyncratic factor, the economist added. Official data showed that industrial production dropped 0.1 percent on a monthly basis in March, confounding expectations for an increase of 1.2 percent. Nonetheless, the pace of decline slowed from a sharp 6.7 percent contraction seen in January.

The Ministry of Economy, Trade and Industry said industrial production fluctuates indecisively, but it has weakened. Production is expected to climb 3.3 percent in April.

Another data from the ministry showed that retail sales growth accelerated to 4.6 percent in February from 2.1 percent a month ago. The Ministry of Internal Affairs and Communications also reported that the jobless rate came in at 2.6 percent in February. The rate was forecast to remain unchanged at 2.4 percent. The number of unemployed people totaled 1.77 million, up 30,000 from the last year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysian Economic Growth Fastest In A Year (05 hr(s), 0 min(s),21 sec(s) ago)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story»

Greece Current Account Deficit Widens (05 hr(s), 43 min(s), 21 sec(s) ago)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story»

Spain Trade Gap Narrows Slightly (06 hr(s), 35 min(s), 21 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story»

UK Retail Sales Stable In March (08 hr(s), 08 min(s), 21 sec(s) ago)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story»

Italy Construction Output Falls 3.9% (08 hr(s), 22 min(s), 21 sec(s) ago)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story»

German Producer Prices Fall At Slower Pace In March (10 hr(s), 23 min(s), 21 sec(s) ago)
(RTTNews) - Germany's producer prices continued to decline in March, though at the slowest pac ...Full Story»

Japan Inflation Data Due On Friday (02 min(s), 39 sec(s) ago)
(RTTNews) - Japan will on Friday release March national figures for consumer prices, highlighting ...Full Story»

Treasury Reveals Details Of Two-Year, Five-Year & Seven-Year Note Auctions (31 min(s), 21 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysian Economic Growth Fastest In A Year

04/19/2024 - 08:00 AM (RTTNews)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story>>

Greece Current Account Deficit Widens

04/19/2024 - 07:17 AM (RTTNews)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story>>

Spain Trade Gap Narrows Slightly

04/19/2024 - 06:25 AM (RTTNews)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story>>

UK Retail Sales Stable In March

04/19/2024 - 04:52 AM (RTTNews)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story>>

Italy Construction Output Falls 3.9%

04/19/2024 - 04:38 AM (RTTNews)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.