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Tokyo inflation cools on childcare support, backing BOJ caution

The Japan Times·Toru Fujioka·about 1 month ago
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#tokyo#japaneseeconomy#inflation#boj#internalaffairsministry#year
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The consumer price index excluding fresh food rose 1.5% in April from a year earlier in Tokyo, the smallest gain since March 2022, according to the internal affairs ministry. | BLOOMBERG Tokyo’s key inflation gauge unexpectedly slowed on the back of expanded subsidies for childcare, staying below the Bank of Japan’s target in a result that supports the bank’s cautious approach toward resuming interest rate hikes. The consumer price index excluding fresh food rose 1.5% in April from a year earlier in the capital, the smallest gain since March 2022, the Ministry of Internal Affairs and Communications said Friday. That marked five straight months in which the pace slowed — the longest such streak since 2009 — and was weaker than the median economist forecast of 1.8% growth. A separate measure that also strips out energy to reflect underlying strength increased 1.9%, the slowest pace in just over a year. When including all items, the overall CPI grew 1.5%.…

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