Consumer inflation in Japan's capital rises at fastest pace in 40 years

reuters.com/world/asia-pacific/consumer-inflation-japans-capital-rises-fastest-pace-40-years-2022-11-24

Summary

- Tokyo Nov core CPI up 3.6% vs f'cast +3.5%

- Tokyo CPI stays above BOJ's 2% target for 6th straight month

- Data underscores broadening inflationary pressure

TOKYO, Nov 25 (Reuters) - Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded the central bank's 2% target for a sixth straight month, signalling broadening inflationary pressure.

The increase, driven mostly by food and fuel bills but spreading to a broader range of goods, cast doubt on the view of the Bank of Japan (BOJ) that recent cost-push inflation will prove transitory, some analysts said.

The Tokyo core consumer price index (CPI), which excludes fresh food but includes fuel, was 3.6% higher in November than a year earlier, government data showed on Friday. The rise exceeded a median market forecast of 3.5% and the 3.4% increase seen in October

The last time Tokyo inflation was faster was April 1982, when the…

This story appeared first on reuters.com, 2022-11-25.
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