Japan's core consumer prices hit a nearly five-year high in August, with prices of personal electronics climbing for the first time since 1992, a sign Japan could be emerging from 15 years of deflation . Data from the Japanese government say so.
Core consumer prices, which include petroleum products but exclude volatile unprocessed food prices, rose 0,8% in August year-on-year, following a 0,7% increase in July, marking the third month consecutive rises. The consensus was for a figure equal to that of July.
However most of the uptick can be attributed to rising gasoline costs and a weakening yen which has inflated the price of food imports and could dampen consumer confidence, which is already showing signs of an upturn.
That said, prices of leisure durable goods, such as personal computers and audiovisual equipment, rose 0,1% in August year-on-year, turning positive for the first time since 1992, in a sector where consumer prices have fallen steadily.
The so-called core-core inflation index, which excludes food and energy and is similar to the core index used in the United States, fell 0,1% in August, the same decline recorded in July and less than -0,2% on June.
