Japan’s current account surplus shrank 7.6 percent in January from a year earlier to 719.1 billion yen, for the first fall in five months as higher oil prices cut into the nation’s trade balance, the Finance Ministry said Monday.

The balance of trade in goods and services posted a deficit of 385.3 billion yen, falling into the red for the first time since January last year, when it logged a 17.8 billion yen deficit, the ministry said in a preliminary report.

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