Tokyo Core Inflation Hits Two Percent Target as Central Bank Maintains Hawkish Stance
Tokyo core consumer prices rose 2.0% in January matching the official Bank of Japan target. The data follows a recent interest rate hike to a 30-year high.
Insights:
Tokyo core consumer prices which exclude volatile costs of fresh food rose 2.0% in January from a year earlier. This reading matches the Bank of Japan inflation target and follows an interest rate increase to a 30-year high last month. The January figure represents a slowdown from the 2.3% increase recorded in December and came in slightly below the median market forecast for a 2.2% rise in Japan 
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