Tokyo. Japan’s consumer price index rose 2.7 percent in August from the same month last year, Japan’s Ministry of Internal Affairs and Communications said Friday.

This growth rate seems to be declining for the third consecutive month. Inflation was 3.1 percent in August. The pace of price growth has slowed down due to the reduction in energy costs.

Growth was the slowest in nine months, though above the two percent target set by Japan’s central bank. A calculation excluding both fresh food and fuel showed prices rose by 3.3 percent, down slightly from 3.4 percent in the previous month.

Foodstuffs, excluding fresh items, rose 8.0 percent, down slightly from 8.3 percent in the previous month. Fuel prices fell 3.3 percent, higher than a 0.3 percent drop in August.