For the first time since April 2013, Japan’s core CPI figure has fallen into negative territory.
According to data released by the government, core CPI – that which excludes volatile oil prices – fell by 0.1% in August compared to levels of a year earlier.
The decline, in line with expectations, was lower than the flat reading of July.
Indicating that the pace of deflation may accelerate, core CPI in Tokyo fell by 0.2% in the year to September, suggesting the national figure may also decline further when the September figures are released in one months time.
In absolute terms, national CPI rose by 0.2%, unchanged from July.