BUSINESS / Economy

Japan's core consumer prices show first fall in 40 months

Lower oil prices and weak travel demand due to the coronavirus pandemic brought down core consumer prices in April, the first monthly decline for over three years. | KYODO

Kyodo

May 22, 2020

Core consumer prices fell from a year earlier in April, recording the first decline in 40 months, government data showed Friday.

Prices are thought to have been dragged down by the lower cost of oil and weak travel demand in the wake of the coronavirus pandemic, with further declines expected in coming months.

The nationwide core consumer price index, which excludes volatile fresh food items, fell 0.2 percent after rising 0.4 percent in March, the Ministry of Internal Affairs and Communications said — a far cry from the Bank of Japan's 2 percent inflation target.

Japan's core consumer prices show first fall in 40 months

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