Tokyo’s core inflation continues to accelerate, exceeding the central bank’s target
August 30, 2024
Core inflation in Tokyo accelerated for the fourth straight month in August, data released on Friday showed. The index exceeded the central bank’s inflation target of 2%, reinforcing market expectations for continued interest rate hikes. Tokyo’s consumer price index (CPI), which excludes volatile fresh food prices, rose 2.4% year-on-year, compared with 2.2% expected and 2.2% in July.