Japanese Inflation Slows, but Remains Above BOJ’s Target for 18th Consecutive Month
Japan’s core consumer price index edged up 2.8% in September, a slight dip from August’s 3.1%, attributed to reduced electricity and gas costs, official data revealed. Despite this deceleration, it remains above the Bank of Japan’s 2% target, marking the 18th consecutive month surpassing it. Processed food prices surged 9.2%, while electricity costs saw a 24.6% drop, according to the Ministry of Internal Affairs and Communications.
Exports Show Encouraging Signs, but Challenges Persist
Japanese exports saw a 4.3% growth in September, marking the first year-on-year increase in three months, as per preliminary data from the Finance Ministry. While exports of automobiles and pharmaceuticals rose, experts warn of potential vulnerabilities, especially in semiconductor-related products. Shipments to China recorded a 6.2% decline, hinting at the impact of trade control measures imposed by both nations.
Japan’s H1 2023 Trade Deficit Narrows by 75.1% YoY
In the first half of fiscal 2023, Japan’s trade deficit shrank by 75.1% to 2.71 trillion yen compared to the same period last year, according to preliminary figures released. The data highlights the ongoing efforts to rebalance trade dynamics in the region.
