BoJ inflation gauge grinds to a halt

Consumer prices excluding fresh food rose 2% in Feb from a year earlier, less than a median estimate of 2.1%

The Bank of Japan (BoJ)'s key inflation gauge ground to a halt as consumer spending slumped, highlighting weakness in the nation's recovery from recession.

Consumer prices excluding fresh food rose 2 per cent in February from a year earlier, less than a median estimate of 2.1 per cent. The central bank's measure that strips out last year's sales-tax increase showed inflation at zero. Household spending dropped 2.9 per cent from a year earlier, while retail sales fell 1.8 per cent.