Price decline Index

Consumer Price Index falls for 6th straight month in January due to new Corona

February 19, 2021, 10:40 am

The Consumer Price Index, which looks at the price movements of goods and services consumed at home, fell for the sixth consecutive month last month (January), with the index excluding fresh food falling -0.6% compared to the same month of the previous year. The index was affected by a drop in accommodation prices due to people refraining from going out because of the spread of the new coronavirus.

The Consumer Price Index, which excludes perishable food items that fluctuate greatly due to weather, was 101.4 last month, down 0.6% from the same month of the previous year.
This is the sixth consecutive month of decline.

The main reasons for the decline were the 8.2% and 6.7% drop in electricity and gas prices, respectively, due to the drop in crude oil prices, and the 2.1% drop in accommodation prices due to the refrain from going out due to the spread of the new coronavirus.

On the other hand, prices of home appliances such as air conditioners and microwave ovens increased by 3.1%, as people are spending more time at home and replacing their home appliances.

The Ministry of Public Management, Home Affairs, Posts and Telecommunications (MIC) said, "It is difficult to judge the impact of the declaration of a state of emergency in just one month, but it is presumed that the reduced movement of people has led to a drop in service fees for lodging and other services and a rise in the price of home appliances. We will continue to monitor the impact with caution.


Translated with www.DeepL.com/Translator (free version)

Source: https://www3.nhk.or.jp/news/html/20210219/k10012875641000.html