Japan consumer prices fell for 8th consecutive month in March

Tokyo, Apr 23 (EFE).- The consumer price index fell 0.1 percent in Japan in March compared to the same month in 2020, the government reported Friday.

The indicator, which excludes fresh food prices due to their high volatility, marks the eighth consecutive month of year-on-year price decline in the third world economy.

This evolution, spurred by the slowdown in the Japanese economy as a result of the pandemic, continues to place it far from the target of the 2 percent annual inflation rate sought by the Bank of Japan with its ultra-flexible program.

Compared to March, prices rose 0.2 percent in Japan, according to data released Thursday by the Statistics Office of the interior and communications ministries.

The most influential sectors were once again, energy and water, which decreased 4.8 percent year-on-year, and education, whose prices fell 2.2 percent in relation to the same month of the previous year.

On the other hand, furniture, household items and clothing and footwear sections saw a year-on-year price increase of 2.9 percent and 0.8 percent, respectively.

In the 2020 fiscal year, Japan’s price index fell 0.4 percent compared to the previous year, its first decline in four years. EFE

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