Japan core consumer prices rise 2.7% in August

Japan's core consumer prices rose 2.7% in August from a year earlier, according to data released by the Ministry of Internal Affairs and Communications. This figure represents a slowdown for the third consecutive month, following a 3.1% increase in July, attributed in part to lower energy costs. The nationwide consumer price index (CPI), which excludes volatile fresh food, remained above the Bank of Japan's 2% inflation target but indicated the slowest pace of price growth in nine months. The core-core CPI, which further excludes fuel costs, increased by 3.3% in August, a slight decrease from the 3.4% rise in July. Food prices, excluding fresh items, saw an 8.0% climb, down from 8.3% in July, while energy prices declined by 3.3%, a reversal from a 0.3% fall in the previous month. Reuters reported a median market forecast of a 1.8% rise for August's core consumer prices.