Japan Overall CPI -1.8% On Year In June

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The consumer price index in Japan was down 1.8 percent on year in June, the Cabinet Office said on Friday, in line with forecasts following the 1.1 percent annual contraction in May. On month, overall inflation eased 0.2 percent.

Core CPI, which excludes the price of fresh food, was a record 1.7 percent lower on year - also matching forecasts after the 1.1 percent decline in the previous month.

Nationwide inflation minus food and energy costs was down 0.7 percent on year versus expectations for a 0.6 percent fall after the 0.5 percent decline in May.

Core CPI for the Tokyo area, considered a leading indicator for the national trend, also hit the forecast with a 1.7 percent annual contraction after the 1.3 percent fall in May.

Overall inflation for Tokyo was down 1.8 percent on year versus expectations for a 1.7 percent annual decline following the 1.5 percent contraction a month earlier. On month, Tokyo CPI was down 0.4 percent.

Tokyo inflation minus energy and food costs matched expectations with a 1.1 percent annual contraction after shedding 1 percent a month earlier.

(Market News Provided by RTTNews)