TOKYO (Reuters) – Japan’s consumer price inflation likely accelerated in November, driven by persistently high rice prices and the gradual removal of utility subsidies, a Reuters poll showed on Friday.
The core consumer price index (CPI), which includes oil products but excludes fresh food prices, is expected to have risen 2.6% in November from a year earlier, compared with 2.3% in October, a poll of 18 shows economists.
“In addition to higher prices for rice, food and industrial products, energy prices were also pushed up as the government cut subsidies for electricity and city gas bills,” Mizuho Research & Technologies said in a report.
The Home Office will release the November CPI data on December 20 at 8:30 am (December 19 at 11:30 pm GMT).
The poll also showed that exports in November are expected to rise 2.8% from a year earlier, a slowdown from a 3.1% increase in October.
Imports are estimated to have increased 1% from a year earlier, resulting in a deficit of 688.9 billion yen ($4.50 billion). Imports increased by 0.4% in October.
“Global trade remained sluggish, but the yen’s weakness since mid-September has likely boosted the value of exports,” said Takeshi Minami, chief economist at the Norinchukin Research Institute.
Machine orders, a highly volatile but leading indicator of capital spending over the next six to nine months, likely rose 1.2% in October from the previous month after falling 0.7% in September, the poll shows .
The Treasury will release trade data at 8:50 a.m. on Dec. 18 (2350 GMT on Dec. 17), while the Cabinet Office will release machinery order data at 8:50 a.m. on Dec. 16 (2350 GMT on Dec. 17). 15).
($1 = 152.9800 yen)
(Reporting by Makiko Yamazaki; Editing by Kate Mayberry)
