Japan Overall Inflation +2.3% On Year In July
Thursday August 28, 2008 23:51:00 EDT

(RTTNews) - Overall inflation in Japan increased by 2.3 percent on year in July, the Ministry of Internal Affairs and Communications said on Friday, marking the biggest jump in the consumer price index since October 1997, when it rose 2.5 percent on year.

That was slightly higher than analyst expectations that called for a 2.2 percent annual jump, and it was higher than the 2.0 percent gain in June. It also marked the 10th consecutive monthly increase, largely fueled by a 28.7 percent jump in gasoline prices.

Core CPI, which excludes the volatile changes in fresh food prices, jumped 2.4 percent on year - also the highest increase since a 2.4 percent gain in October 1997. The figure increased for the 10th straight month, and followed a rise of 1.9 percent in June. M (continued...)