Tokyo October Headline CPI % y/y
- expected 2.4%, prior 2.5%
Core 2.8% y/y (excluding fresh food)
- expected 2.6%, prior 2.5%
Core-core 2.8% y/y (excluding food and energy)
- expected 2.6%, prior 2.5%
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Inflation in Tokyo accelerated modestly in October, with all major measures coming in above expectations, suggesting persistent price pressures ahead of the nationwide data later this month.
The firmer readings point to underlying inflation momentum holding steady, supporting the case for the Bank of Japan to remain titled to hiking. Economists expect sustained core inflation near 3% could keep pressure on the BoJ to maintain a tightening bias into year-end.
This article was written by Eamonn Sheridan at investinglive.com.