Japan consumer prices up for fifth straight month

0 Comments | AFP, April, 2006

TOKYO (AFP) — Japan saw a further easing of deflationary pressures in March with core consumer prices up for a fifth straight month, official figures showed.

The core consumer price (CPI) index, which excludes volatile prices of fresh food, increased 0.5 percent, the Ministry of Internal Affairs and Communications said.

The increase was slightly smaller than the 0.6 percent gain the market had expected but nevertheless provided fresh evidence that the world's number two economy is finally beating its deflation scourge.

The CPI index for Tokyo -- the leading indicator for national price trends -- was up 0.3 percent in April from a year earlier. Excluding volatile prices of fresh food it was also 0.3 percent higher.

The Bank of Japan last month...