Japan's consumer prices almost unchanged in July

Japan's consumer prices were almost unchanged in July on year after rising for 25 straight months, said the Ministry of Internal Affairs and Communications on Friday, attributing the trend to lowering crude oil prices.

The ministry said that the core consumer price index, which excludes volatile fresh food prices, stood at 103.4 against the 2010 base of 100, following a 0.1 percent increase in June.

Energy prices plunged 8.7 percent in July with gasoline prices declining 15.2 percent and electricity fees 3.8 percent. However, increasing prices on food and durable goods prevent the index from falling into negative territory on the yen's depreciation.

Meanwhile, a separate report of the ministry said that average monthly household spending in July declined an inflation-adjusted 0.2 percent for the second straight month of falling, meaning that personal consumption remains weak. Endi