Tokyo Inflation Accelerates for Two Consecutive Months, Raising Expectations for Central Bank Rate Hike

Inflation in Tokyo, Japan, has accelerated for the second consecutive month, prompting expectations that the Bank of Japan will raise interest rates again in the coming months. According to data from Japan's Ministry of Internal Affairs and Communications, the core Consumer Price Index (CPI) in Tokyo rose by 1.9% year-on-year in July, exceeding market expectations of 1.8%. The core-core CPI, which excludes fresh food and energy, increased by 2%, while the overall CPI also rose by 2%. Takeshi Minami, chief economist at the Norinchukin Research Institute, predicts that inflation will remain above 2%.

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