Indicators
Tokyo Inflation Tops Expectations, Supporting Case for BOJ Hikes
- Factory output gains while retail sales barely outpace prices
- Labor market remains largely tight, despite uptick in jobless
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Inflation in Tokyo picked up speed in August, supporting the case for the Bank of Japan to continue raising rates at a gradual pace as the bank balances the need to support the economy.
Consumer prices excluding fresh food rose 2.4% in the capital, an acceleration from 2.2% growth in July, the Ministry of Internal Affairs reported Friday. The result exceeded a consensus estimate of 2.2%. Tokyo’s figures are leading indicators of the national data due in September.