Tokyo's core inflation hit 2.1% in June, surpassing the 2% target, potentially influencing the Bank of Japan to consider raising interest rates.
Tokyo's core inflation rose to 2.1% in June, fueled by increasing fuel costs and a weakening yen. This acceleration in Tokyo's core CPI exceeded the 2% target and market forecasts. The data may influence the Bank of Japan (BOJ) to consider raising interest rates as early as July to keep inflation rates high. Additionally, Japan's factory output rebounded in May, with a 2.8% growth, offering hope for a moderate economic recovery.
June 27, 2024
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