2023-10-27 01:58:48 ET
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The core consumer price index for the Ku-area of Tokyo in Japan rose 2.7% year-on-year in October 2023, accelerating from a 2.5% gain in September which was also the consensus forecast.
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The bank is also coming under increasing pressure to consider a shift away from negative interest rates, given that Japan’s economy has remained resilient, while inflation has remained above the BOJ’s 2% annual target for over a year.
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Tokyo’s headline inflation accelerated to 3.3% in October from 2.8% in September. National-level CPI data for October will follow in about three weeks as it takes longer to gather and collate national data.
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Tokyo CPI inflation 2.7%, up more than expected in Oct