Japan's core consumer prices in January rose 2 percent from a year earlier, hitting a two-year low and aligning with the Bank of Japan's inflation goal, government data showed Friday.
The core consumer price index (CPI) climbed to 112 in January, excluding volatile fresh food costs, extending its year-on-year rise to a 53rd consecutive month, according to the Ministry of Internal Affairs and Communications.
The deceleration was largely due to the effect of fuel subsidies, the abolition of a provisional gasoline tax, and the base effect of last year's surge in food prices, the data showed.
Food prices, excluding fresh items, rose 6.2 percent in January, slowing from a 6.7 percent growth in the previous month, while energy costs fell 5.2 percent after a drop of 3.1 percent in December.
Meanwhile, specific commodity prices saw sharp increases, with coffee bean prices rose by 51.0 percent year on year, and ordinary rice prices rose by 27.9 percent year on year.
Japan's core consumer prices rise 2.0 pct in January
