Tokyo July core consumer price index up 2.3% y/y

It was announced today that key consumer prices in Tokyo rose by 2.3% year-on-year in July. This was the second time in a month that the Bank of Japan’s inflation target was exceeded.

The Japanese capital’s main consumer price index is an indicator of nationwide price trends. It includes energy items, but not prices for fresh food. It was thus higher than economists’ forecasts, who had expected an increase of 2.2%.

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