Excluding fresh food, “core” consumer prices rose 2.0 percent year-on-year, down from a 2.4 percent increase in December and in line with market expectations of 2.0 percent.

Also stripping out energy prices, inflation mellowed by more than expected to 2.6 percent from 2.9 percent in January, compared to the median economist forecast of 2.7 percent.

Unadjusted, consumer prices rose 1.5 percent compared to 2.1 percent in December, also constituting a bigger drop than expected, with market consensus pegged at 1.6 percent.

Takaichi, who was appointed leader in October, has promised to fight inflation as a major priority.

Public discontent over rising prices largely contributed to the downfall of Takaichi’s predecessor Shigeru Ishiba.

Japan’s first woman premier was formally reappointed as prime minister on Wednesday, 10 days after her historic landslide election victory.

The 64-year-old won a two-thirds majority for her party in the snap lower house elections on Feb 8.

She was due to give a policy address in parliament later on Friday.