Consumer prices in Japan are anticipated to increase for an 11th consecutive month in November according to the poll from Reuters on Friday, a reflection of inflation’s inhibited growth despite the strengthening of the economy. Japan’s Core Consumer Price Index including oil products except for volatile fresh food prices is likely to increase by 0.8 percent in November since last year. The figure was maintained from October forecast, according to the survey of 19 economists. The utility costs have sluggish development yet the cost of oil products such as the core consumer price of gasoline. Japan’s core consumer prices released before the overall data was set to increase by 0.7percent in December last year compared to the annual rate of 0.6 percent in November. The consumer price data is scheduled to be released by the internal affairs on December 26 at 8.30 am Tokyo time. Energy prices have an impact on the core CPI which will most likely be kept steady in the fiscal year and reach highs in fiscal 2018, according to the chief market economist at SMBC Nikko Securities. The Bank of Japan intends to keep the monetary policy steady on Thursday as Governor Haruhiko Kuroda pointed out the necessity for an ultra-loose policy since the two percent inflation target is still far from reaching it despite the advancement of the economy. The industrial output is forecasted to rise by 0.5 percent in November from the previous, which has been upward for two consecutive months. The prediction for factory output continues to have strong business sentiment and high external demand. At the same time, it is assumed that the recovery will continue because of demand in exports in a global economic recovery environment with progressive corporate profits and advancing jobs market, based on the survey from a senior economist at Mitsubishi Research Institute. The factory output data will be released by the Trade Ministry on December 28 at 8.50am.
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