The latest inflation figures for Tokyo are now out. Growth in the inflation rate slowed as energy prices fell, but it is still well above the Bank of Japan's 2-percent target.
The internal affairs ministry says the consumer price index for the capital's central 23 wards in August was up 2.8 percent year on year.
The index excludes volatile fresh food prices, which fluctuate based on the weather.
Lower fuel prices pushed down energy costs, with electricity bills dropping 22 percent and gas 14 percent.
Meanwhile, Tokyo consumers are still feeling the wave of price hikes in supermarkets.
Prices of food excluding fresh items soared almost 9 percent.
The figures for the capital are seen as a key indicator of nationwide inflation. Those numbers will be released on September 22nd.
The internal affairs ministry says the consumer price index for the capital's central 23 wards in August was up 2.8 percent year on year.
The index excludes volatile fresh food prices, which fluctuate based on the weather.
Lower fuel prices pushed down energy costs, with electricity bills dropping 22 percent and gas 14 percent.
Meanwhile, Tokyo consumers are still feeling the wave of price hikes in supermarkets.
Prices of food excluding fresh items soared almost 9 percent.
The figures for the capital are seen as a key indicator of nationwide inflation. Those numbers will be released on September 22nd.
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Summary
Tokyo's latest inflation rate slowed due to a decrease in energy prices, but remains above the Bank of Japan's 2% target. The consumer price index for August increased by 2.8% year on year, excluding volatile fresh food prices. Energy costs dropped by 22% for electricity and 14% for gas. However,
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ID: 390b9241-81ad-4af8-821c-2f70d57a6e53
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230825_14/
Date: Aug. 25, 2023
Created: 2023/08/25 18:05
Updated: 2025/12/09 00:37
Last Read: 2023/08/25 18:09