MNI BRIEF: Japan's March Core CPI At Highest Since Jan 2020

Japan's March annual core consumer inflation rate rose 0.8% y/y on the back of higher energy costs, data from the Ministry of Internal Affairs and Communication released on Friday showed.

The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) fell 0.7% in March after a decline in February. Energy items rose 20.8% y/y in March. The price focus has shifted to the April consumer price index, which is expected closer to 2% as the impact of cheaper mobile phone costs wanes.