Tokyo’s core CPI excluding fresh food and energy eased to 2.4% year on year in October, down from 3% previously. The move points to softer underlying price momentum in the capital, in a series watched as a lead indicator for national inflation trends.
Cooling Of Tokyo’s Core Inflation
With the gauge cooling by 0.6 percentage points, markets will parse the details for clues on whether disinflation is broad-based or driven by specific categories.
Implications For Broader Price Momentum
The reading keeps inflation above levels seen earlier in the tightening cycle, but it marks a clear step down in the pace of price rises.