Consumer prices in Japan's capital rise at fastest pace since 2014 | Inquirer Business

Consumer prices in Japan’s capital rise at fastest pace since 2014

/ 08:04 AM October 04, 2022

TOKYO  -Core consumer prices in Tokyo, a leading indicator of nationwide inflation, rose 2.8 percent in September from a year earlier, marking the biggest gain since 2014 in a sign of broadening cost pressures.

The core consumer price index (CPI) for Japan’s capital, which includes oil products but excludes fresh food prices, matched a median market forecast and followed a 2.6-percent gain in August.

ADVERTISEMENT

It was the fourth straight month the index’s rate of increase exceeded the Bank of Japan’s 2-percent target, and matched a 2.8-percent gain hit in June 2014.

Prices rose for a wide range of goods and services including electricity bills, chocolate, sushi to hotel bills, government data showed, a sign more firms were passing on rising raw material costs to households.

FEATURED STORIES

The data is among key factors the BOJ will scrutinise in gauging whether recent cost-push inflation could change into a sustained rise in prices driven by robust domestic demand.

The BOJ has pledged to keep monetary policy ultra-loose despite recent rises in inflation, which it sees as driven by temporary factors like higher fuel and raw material rather than strong consumption.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Inflation, Japan, Tokyo
For feedback, complaints, or inquiries, contact us.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.