Consumer prices climb in Japan, retail sales fall

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Associated Press

Posted on August 30, 2013 at 9:00 AM

Updated Friday, Aug 30 at 9:00 AM

TOKYO (AP) — Japan has released data showing its economic recovery gained momentum in July, as manufacturing accelerated and consumer prices rose for a second straight month, despite weaker household spending and retail sales.

The government said Friday that the consumer price index rose 0.7 percent in July from a year earlier, for the second straight month of gains. However, the core index, which excludes food and energy prices, fell 0.1 percent. The CPI rose 0.2 percent in June.

Average household spending fell 1.4 percent in July from a year earlier, though and household income and the jobless rate improved.

The Ministry of Economy, Trade and Industry said industrial output rose 1.6 percent from a year earlier but 3.2 percent from the month before, suggesting the recovery is taking hold.

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