JEQ - Tokyo's inflation accelerates 2.1% in June

2024-06-28 02:13:41 ET

• Tokyo’s core inflation rate, a leading indicator for nationwide price trends, came in hotter-than-expected in June.
• Tokyo’s core inflation rate rose 2.1% in June, above the consensus forecast and the Bank of Japan’s 2% target, reinforcing the case for the central bank to proceed with policy normalization.
• Tokyo’s core inflation rate also accelerated for the second straight month, following a 1.6% rise in May.
• Meanwhile, the headline CPI accelerated to 2.3% in June from 2.2% in May.

• The Japanese yen weakened to around 161 per dollar, breaching that level for the first time since 1986 as the Ministry of Finance appointed Atsushi Mimura as Japan’s top currency diplomat, replacing Masato Kanda....

  Nikkei 225 ( NKY:IND ) jumped 0.7% to above 39,626 on Friday, amid strong data.

  More on Japan

  • Japan's industrial production expands more than expected in May; jobless rate stays at 2.6%

  • Japan's May retail sales rise more than expected; yen sinks to 38-year low vs dollar

  • Japan's inflation rate accelerates in May to 2.8%; core inflation lower than expected at 2.5%

  • Japan's exports grow more than expected in May amid weak yen and robust external demand

  • Japan Q1 GDP shrinks more than expected on weak consumer spending

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