Tokyo Core Inflation Slows to 1.5 Percent in April

Tokyo core CPI rose 1.5% in April, missing the 2% target for a third month as fuel subsidies offset rising energy costs. The reading followed a 1.7% gain in March and trailed the 1.8% median forecast from market participants. Persistent price pressures from a weak yen keep the Bank of Japan under pressure to raise interest rates.

Tokyo's core CPI, which excludes fresh food, slowed to 1.5% in April. An index stripping away both fresh food and fuel rose 1.9%, down from 2.3% in March. Japan remains below its price stability goal despite rising raw material costs.