Tokyo Inflation Slows Sharply on Education Subsidy Impact

Drop in education costs shaves almost half a point from CPI
Data come as BOJ board meets to decide monetary policy

Consumer prices excluding fresh food rose 1.6% in Tokyo, slowing from 2.4% in March, the ministry of internal affairs reported Friday. — Consumer prices excluding fresh food rose 1.6% in Tokyo, slowing from 2.4% in March, the ministry of internal affairs reported Friday.
Photographer: Soichiro Koriyama/Bloomberg

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By Erica Yokoyama and Yoshiaki Nohara

April 25, 2024 at 11:34 PM UTC

Updated on

April 26, 2024 at 12:26 AM UTC

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Price growth in Tokyo decelerated sharply to a pace below 2% in April, in an outcome largely distorted by the start of education subsidies, as the Bank of Japan gathers to decide policy.

Consumer prices excluding fresh food rose 1.6% in Tokyo, slowing from 2.4% in March, the ministry of internal affairs reported Friday. A deeper measure of the inflation trend that strips out fresh food and energy prices slowed to 1.8%, compared with the consensus estimate of 2.7%.