Japan’s headline CPI inflation rose 1.5% year-on-year in March (vs 1.3% in February, 1.4% market consensus) and core inflation excluding fresh food accelerated for the first time in five months to a 1.8% rate (vs 1.6% in February, 1.5% market consensus). The index increased by 0.4% month-over-month on a seasonally adjusted basis, reflecting increased pressure from goods, which rose by 0.6%, while services also increased by 0.2%. Looking at the details, prices for fresh food (-4.8%), gasoline (-5.4%), utilities (-4.8%), and education (-5.5%) dropped. Fresh food prices dropped for four consecutive months, mostly due to ... (full story)