Japan's core consumer prices dipped just 0.1% in March from a year ago with the pace of decline slowing further, providing relief to the Bank of Japan (BOJ) as it battles to stem COVID-19 pandemic-induced price declines, government data showed Friday.
The nationwide core consumer price index, excluding volatile fresh food items, marked its eighth straight month of decline, dragged down by lower energy prices, according to the Internal Affairs and Communications Ministry. In February, the core CPI was down 0.4%.
The pace of decline slowed in March due partly to a rise in prices of household appliances such as air conditioners and air purifiers, as demand increased due to people spending more time at home during the pandemic.