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BOJ index shows June consumer prices +0.8 percent year-on-year
July 29, 2016 / 5:21 AM / a year ago

BOJ index shows June consumer prices +0.8 percent year-on-year

TOKYO (Reuters) - Japanese consumer prices rose 0.8 percent in June from a year earlier when stripping out energy and fresh food costs, an indicator released by the Bank of Japan showed on Friday.

A shop clerk (2nd R) carries a box of shoes under sale signboards at a shoes retail store at a shopping district in Tokyo, Japan, April 28, 2015. REUTERS/Yuya Shino

That was the same pace as in May.

The BOJ uses the government’s core CPI, which excludes fresh food but includes energy costs, as its key price measurement in guiding monetary policy. That index fell 0.5 percent in June from a year ago, data earlier on Friday showed.

With core CPI stagnant due largely to slumping energy prices, the central bank began internally calculating a new index that shows inflation exceeding government data. That index strips away volatile fresh food and energy costs but includes processed and imported food prices.

The BOJ began publishing the index last November and releases it each month on the day the government publishes its price data.

Reporting by Kaori Kaneko; Editing by Kim Coghill

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