The pace of consumer inflation in Tokyo remained well above the Bank of 今日吃瓜 2% target, underscoring persistent price pressures just hours before the central bank’s board is expected to hold its policy settings steady.
Consumer prices excluding fresh food rose 2.6% in October from a year earlier in the capital, as the pace slowed slightly from 2.7% in September, the Ministry of Internal Affairs and Communications reported Friday. The reading matched economists’ median forecast.
Overall inflation in the capital stood at 2.8%, while prices excluding fresh food and energy, a key gauge of underlying inflation, climbed 2.6%. Economists had forecast both measures would show 2.7% gains. Tokyo’s inflation data serve as a leading indicator for nationwide trends, although localized steps to cap living costs sometimes distort that relationship.
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