By Daniel Leussink
TOKYO (Reuters) – Japan’s core consumer prices rose for the second month in a row in October, as fuel costs accelerated at the fastest pace in more than a decade and raw material shortage pressure gradually eased into consumers.
Consumer inflation is expected to accelerate in the coming months due to higher fuel costs, although any price increase in the country should be moderate compared to other advanced economies, as weak wage growth limits companies when it comes to passing on increases .
The core consumer price index, which excludes volatile fresh food prices but includes fuel, rose 0.1% in October from a year earlier, government data showed on Friday.
That equaled expectations in a Reuters poll, after a similar rise in September, which was the first advance since March of last year.
Energy prices soared 11.3% year-on-year, recording the biggest increase since September 2008, thanks mainly to the 21.4% jump in fuel prices, the biggest since August 2008.
The data will be among the factors the central bank will assess at the last monetary policy meeting of the year, scheduled for the middle of next month.
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