Tokyo inflation rose 1.9% YoY in May, primarily due to renewable energy surcharges, signaling potential nationwide acceleration.
Tokyo inflation accelerated in May, rising 1.9% YoY, driven mainly by utility costs related to renewable energy surcharges. This indicates a likely similar acceleration in the nationwide reading to be released next month. The Tokyo inflation figures typically serve as a leading indicator for national trends, keeping the Bank of Japan (BOJ) on track to consider a rate hike in coming months despite ongoing economic weakness.
May 31, 2024
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