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Japan's CPI drops for 4th straight month in June

Xinhua, July 29, 2016 Adjust font size:

Japan's core consumer price dropped 0.5 percent in June from a year before, down for four months in a row, posting the biggest decline since March 2013, official data showed on Friday.

The core consumer price index (CPI), which excludes fresh food prices, came to 103.0 against the base of 100, down 0.1 percent from the previous month, according to statistics released by the Ministry of Internal Affairs and Communications on Friday.

Meanwhile, the core CPI for Tokyo stood at 101.4 in July, down by 0.4 percent compared to the same period of the preceding year and down by 0.1 percent compared to the previous month, a decline for the seventh consecutive month.

Expectations of further steps for monetary easing from the Bank of Japan is rising ahead of the outcome of its two-day policy meeting ending later Friday.

The Japanese government on Wednesday pledged to compile a stimulus package of more than 28 trillion yen (about 265 billion U.S. dollars), in a bid to shore-up the world's third-largest economy. Endit