RUBBER-Japanese futures decline on weak economic data, firmer yen

* Japanese rubber futures dipped for a third consecutive session on Thursday, weighed down by poor economic performance and a stronger yen, although easing inflationary pressures in the U.S. and supply concerns limited losses.
* The Osaka Exchange (OSE) rubber contract for October delivery was down 0.6 yen, or 0.3%, at 210.5 yen ($1.56) per kg, as of 0213 GMT.
* The rubber contract on the Shanghai futures exchange (SHFE) for September delivery was up 105 yuan, or 0.9%, at 12,250 yuan ($1,772.25) per tonne.
* Japan's benchmark Nikkei average opened 0.04% lower.
* China's consumer prices rose at a slower pace and missed expectations in April, while factory gate deflation deepened, data showed on Thursday, suggesting more stimulus may be needed to boost a patchy post-COVID economic recovery.
* U.S. President Joe Biden piled pressure on Republican lawmakers on Wednesday to move quickly to raise the country's $31.4 trillion debt ceiling or risk throwing the U.S. economy into a recession that would kill thousands of jobs.
* Still, the annual increase in consumer prices slowed to below 5% in April for the first time in two years, while a key inflation measure monitored by the Federal Reserve subsided, potentially providing cover for the central bank to pause further interest rate hikes next month.
* The Japanese yen appreciated for a third day, up 0.17% to 134.14 per dollar.
* A stronger yen makes yen-denominated assets less affordable when purchased in other currencies.
* Rubber output may be affected in top-exporter Thailand as the National Water Command Centre issued flood warnings for nine provinces in the North and Northeast regions from Friday to Sunday, May 12-14.
* The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery last traded at 137.3 U.S. cents per kg, down 0.7%. ($1 = 135.0500 yen) ($1 = 6.9121 yuan) (Reporting by Carman Chew; Editing by Sherry Jacob-Phillips)