RPT-Japan core CPI rises 0.7 pct year/year in September

Thu Oct 24, 2013 7:40pm EDT

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TOKYO Oct 25 (Reuters) - Japan's core consumer prices rose 0.7 percent in September from a year earlier, staying near the fastest growth in almost five years, government data showed on Friday, in a sign that the economy is heading towards the end of deflation.

The rise in the core consumer price index, which includes oil products but excludes volatile prices of fresh food, matched a median forecast by economists, the data from the Ministry of Internal Affairs and Communications showed.

It was the fourth straight month of gains. It followed a 0.8 percent increase in August, which was the fastest pace since November 2008, when it rose 1 percent.

The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index used in the United States, was flat in September compared with a year earlier. The core-core CPI stopped falling for the first time since December 2008.

Core consumer prices in Tokyo, available a month before the nationwide data, rose 0.3 percent in October from the year before, also matching the median market forecast.

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