November data reveals a slowdown in core inflation in Tokyo, aligning with the Bank of Japan’s outlook that cost-push pressures in the third-largest global economy will steadily diminish. Despite a notable uptick in service prices, attributed to increased hotel fees amid a tourist influx, the core consumer price index (CPI) for Tokyo rose 2.3% year-on-year, slightly below market projections. The “core core” index, excluding both fresh food and fuel prices, also eased to a 3.6% gain in November. The Bank of Japan, maintaining a dovish stance, will closely scrutinize these figures at its upcoming policy-setting meeting in mid-December amid ongoing economic uncertainties.
Tokyo Core inflation slows in November, reflecting gradual easing of cost pressures.
