Japan reveals inflation in Tokyo increased only 1.6% in April, below BOJ’s target: InfoQuest

economic news10:58 a.m.2024-04-26

The Japanese government announced today that Core Consumer Price Index (Core CPI) in Tokyo which is an indicator of Japan’s inflation trend. It rose only 1.6% in April year-on-year. which slowed down from March which increased by 2.4%. The core CPI index does not include prices in the fresh food category.

Tokyo’s April core CPI was lower than analysts’ expectations for an increase of 2.2% and below the Bank of Japan’s (BOJ) inflation target of 2%. This may prevent the BOJ from raising interest rates again in the near future.

The report states that Prices in Tokyo’s services sector increased 1.6% in April year-on-year. which slowed down from March which increased by 2.7%.

As for the Core-Core CPI index, which does not include fuel prices and fresh food prices. And it is an index that the BOJ is closely watching as a key indicator of broader inflation trends. slowed to 1.8% in April from 2.9% in March, with the April index marking the slowest increase since September. 2022

By InfoQuest News Agency (26 Apr. ’24)

Tags: BOJ, Japan, Bank of Japan, inflation