E-Tools

Japan's consumer price index up 3.1% in July NHK

Japan's consumer inflation slightly slowed in July, but prices rose year-on-year by more than 3 percent for the 11th consecutive month.

The internal affairs ministry says the Consumer Price Index excluding fresh food in July was 3.1 percent higher than a year earlier. The figure was down 0.2 points from the previous month.

The index for food, excluding fresh items, was up 9.2 percent. Specifically, egg prices soared 36.2 percent, carbonated drinks were up 16.4 percent, hamburgers 14 percent, and freeze-dried soup 13.7 percent.

Prices for cat food rose 28.6 percent, while accommodation fees went up 15.1 percent. Mobile-phone charges were up 10.2 percent, posting the biggest year-on-year increase since January 2001.

Meanwhile, electricity bills dropped 16.6 percent thanks to government subsidies and the rate of fuel price increases is lower.

The ministry estimates that the price index for July, excluding fresh food items, would have been around 4.2 percent without government subsidies for utility bills.

Service prices went up 2 percent from a year earlier, although the figure for June was 1.6 percent. July's increase was the highest since October 1993, if the effects of the consumption tax hikes are excluded.

The ministry says it will keep an eye on service prices, which it says tend to move in tandem with wages and are expected to affect future consumer prices.
Summary
Japan's Consumer Price Index (CPI) slightly decelerated in July, marking the 11th consecutive month of year-on-year price increases exceeding 3%. The CPI excluding fresh food increased by 3.1%, down 0.2 points from June. Food prices, excluding fresh items, surged, with eggs up 36.2%, carbonated
Statistics

221

Words

1

Read Count
Details

ID: 9185ba96-faad-40e2-997c-b35bcf01f49a

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230818_19/

Date: Aug. 18, 2023

Created: 2023/08/19 16:06

Updated: 2025/12/09 00:57

Last Read: 2023/08/19 16:15