Core consumer prices in Japan’s capital rose 3.2 percent in June from a year earlier, exceeding the central bank’s 2 percent target for the 13th straight month in a sign of broadening inflationary pressure, government data showed. | Reuters
TOKYO – Core consumer prices in Japan’s capital rose 3.2 percent in June from a year earlier, exceeding the central bank’s 2 percent target for the 13th straight month in a sign of broadening inflationary pressure, government data showed on Friday.
The data for Tokyo, which is seen as a leading indicator of nationwide trends, will likely keep alive expectations the Bank of Japan will phase out its massive stimulus this year.The increase in the Tokyo core consumer price index , which excludes volatile fresh food but includes fuel costs, followed a 3.1- percent gain in May and compared with a median market forecast for a 3.3- percent rise.
An index that strips away both fresh food and fuel costs rose 3.8 percent in June from a year earlier after a 3.9 percent gain in May, the data showed.
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