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Tokyo Inflation Heats Up Again, Adding to Pressure on BOJ
Consumer price growth in Tokyo unexpectedly quickened for the first time in four months in October, indicating that inflation is proving stickier than expected as the Bank of Japan prepares to set policy next week. Consumer prices excluding fresh food rose 2.7% in the capital, with growth accelerating from 2.5% in September as hotel prices shot up and electricity subsidies were pared back, figures from the ministry of internal affairs showed Friday. Service prices rose 2.1%, the fastest clip since early 1994, excluding years when there was a sales tax increase. Tokyo’s figures serve as leading indicators of ... (full story)