Japan consumer prices up 0.2% in April

Consumer prices in Japan rose 0.2 percent year on year in April, posting an increase for the third straight month on higher energy costs, official figures showed Friday. The market had expected the core index, which excludes volatile food items, would show a 0.1 percent hike after a 0.2 percent rise in March. The increase stemmed mainly from higher electricity and petrol prices, according to data from the internal affairs ministry. Japan has been in a deflationary spiral for years, with a series of monetary and fiscal policy moves failing to reverse the trend. Core consumer prices for the Tokyo metropolitan area, a leading indicator of price trends for the rest of Japan, fell 0.8 percent in May from the same month a year ago.