According to the Ministry of Internal Affairs and Communications of Japan, consumer prices in April increased by 3.5% year-on-year due to a sharp jump in food prices. As a result, inflation accelerated compared to the March value of 3.2%, which became the lowest since September 2022. Analysts predicted a slowdown in inflation to 2.5%. Consumer prices increased by 0.6% compared to the previous month, twice as much as in March. In particular, food prices in Japan rose by 8.4% in April, which was the highest increase since August 1976. In March, the rise was 7.8%. The growth of prices for transport services accelerated from 1.6% in March to 1.8%, for clothing – up to 3.8% (from 3.6%), for furniture and household goods – up to 10% from 9.4%. The growth of prices for medical services accelerated to 1.7% from 1.3%, for educational services – to 1.3% from 0.9%. Only the rise in housing prices has slowed down: from 1.3% to 1.2%. At the same time, the cost of utilities fell by 3.8% after a 2.8% reduction in the previous month – mainly due to a drop in electricity tariffs (-9.3%). Consumer prices in Japan excluding fresh food (a key indicator tracked by the country's central Bank) increased by 3.4% compared to the same month of the previous year. The growth rate of the indicator accelerated from 3.1% in March and coincided with analysts' forecasts. Inflation excluding food and energy increased from 3.8% to 4.1%.
