March data reflect seemingly broad-based increases in retail prices. The Consumer Price Index (CPI) rose an additional 6.0% in March, significantly exceeding its 12-month growth rate of 1.7%. The core CPI (which excludes food and energy) surged an annualized 4.4% in March, its largest monthly increase since November 2001, while the median CPI was up an annualized 3.3%, its largest monthly increase in more than a year.
Suggested citation: "Japan’s Economy," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-05, pp. 08-09, 05.01.2004.