OREANDA-NEWS  Consumer prices in Japan increased by 3.6% year-on-year in March, according to a report by the country's Ministry of Internal Affairs and Communications.

Thus, inflation slowed down from 3.7% in February and updated the minimum since November.

Prices excluding fresh food (a key indicator monitored by the Bank of Japan) increased by 3.2% after rising by 3% a month earlier. The indicator coincided with the expectations of analysts surveyed by Trading Economics.

The key inflation indicator in Japan has been held at the Central Bank's target level of 2% or higher for almost three years.

The increase in food prices in the country in March slowed to 7.4% (in February - 7.6%), the growth rate of electricity prices decreased to 8.7% from 9%, gas - to 2.4% from 3.4%. Meanwhile, prices for clothing rose by 3% after rising by 2.8% in February, and for furniture and household goods - by 4.5% (by 4%).

Transport services rose in price by 2.7% (2.4%), medical services - by 2% (1.7%), communications services - by 1% (0.1%).

Meanwhile, educational services fell by 1.2% last month after falling by 1.1% a month earlier.

Inflation excluding food and energy in Japan in March was 2.9% year-on-year, compared with 2.6% in the previous month.

Consumer prices in Japan rose 0.3% last month compared to February.