CPI deflation in Japan will strengthen

I've borrowed this table from Japan Statistics. Considering the fact that only the price of fuel and transportation has been rising, one can interpret the current fall in oil price as a cause of the overall price drop in the months to come. Price deflation  is strengthening.


Table 1 Japan, February 2013

IndexMonthly Change(%)Annual Change(%)
(10 Major Group Index)
All items99.2 -0.2 -0.7
(All items, less imputed rent)99.2 -0.2 -0.7
Food99.3 -1.0 -1.8
Housing99.2 0.0 -0.4
Fuel, light and water charges108.7 0.1 3.0
Furniture and household utensils89.9 0.7 -3.8
Clothes and footwear95.5 -0.9 -0.5
Medical care98.0 0.0 -0.5
Transportation and communication101.9 0.6 0.9
Education98.5 0.1 0.4
Culture and recreation92.1 0.0 -2.8
Miscellaneous103.4 0.2 -0.1
All items, less fresh food99.2 0.1 -0.3
All items, less food (less alcoholic beverages) and energy97.6 0.0 -0.9
(Goods and Service Group Index)
Goods98.7 -0.3 -1.3
Services99.6 0.0 -0.1

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