Tokyo's core inflation rose 2.4% YOY in August, marking the 4th consecutive monthly increase, fueling expectations of interest rate hikes.

Tokyo's core inflation rose 2.4% year-on-year in August, marking the fourth consecutive monthly increase. This acceleration fuels market expectations of additional interest rate hikes in the coming months. Core CPI, excluding volatile fresh food costs, rose faster than projected at 2.4% against a median market forecast of 2.2%, with the 2.2% gain in July. The Bank of Japan (BOJ) may continue its monetary policy tightening campaign if inflation remains on track to reach its 2% target in the coming years.

August 30, 2024
134 Articles

Further Reading