Dow Jones reported that Japan's core consumer price index fell by 0.2% YoY in January 2011, marking the 23rd straight month of decline in a sign of persistent deflationary pressure despite climbing commodity prices.

The median forecast of economists surveyed by Dow Jones and the Nikkei was a 0.3% decline in the core CPI, which excludes volatile prices of fresh food. The nationwide price index fell 0.4% in December 2010.

The government data also showed that the core CPI for the Tokyo metropolitan area fell 0.4% YY in February, slightly steeper than the consensus forecast for a 0.3% fall.

(Sourced from www.dowjones.com)