POLL-Japan’s Tokyo core CPI seen stalling in Oct, non-energy prices subdued
* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=JPCPTO=ECI Tokyo CPI poll data
* Oct Tokyo core CPI seen +1.0 pct yr/yr, unchanged from Sept
* Tokyo CPI data due at 2330 GMT Oct 25 (0830 JST Oct 26)
TOKYO, Oct 19 (Reuters) – Tokyo’s core consumer price inflation likely stalled in October, a Reuters poll showed on Friday, an unwelcome sign for Japan’s central bank as it struggles to reach its ambitious inflation target.
Tokyo’s core consumer price index, which includes oil products but excludes fresh food prices, was seen rising 1.0 percent in October from a year earlier, the poll of 17 economists showed, in line with the 1.0 percent rise in September.
The Tokyo index is released a month before nationwide core CPI for the same period.
“Energy prices contributed to support Tokyo core CPI but the pace of recovery in prices of other items remained slow and will unlikely jump anytime soon,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.
“We expect Tokyo core CPI index will stay around 1.0 percent year-on-year for a while.”
The internal affairs ministry will issue the core CPI for Tokyo at 8:30 a.m. on Friday Oct. 26 Japan time (2330 GMT on Oct. 25).
Latest data showed the nationwide core CPI rose 1.0 percent in September from a year earlier but remained at half the pace of the central bank’s elusive 2 percent target.
BOJ Governor Haruhiko Kuroda recently offered a slightly more upbeat view on inflation than three months ago.
The central bank will hold its rate review on Oct. 30-31, when it issues new quarterly growth and inflation forecasts. (Reporting by Kaori Kaneko; Editing by Sam Holmes)
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