Inflation in Tokyo rose sharply in August, prompting the Bank of Japan to continue raising interest rates gradually.
Consumer prices excluding fresh food rose 2.4 percent in the capital, accelerating from 2.2 percent growth in July, the interior ministry said on Friday. The result topped a consensus estimate of 2.2 percent. The Tokyo figures are leading indicators of national data expected in September.
Following the BOJ’s interest rate hike on July 31, Governor Kazuo Ueda indicated that he plans to raise the benchmark interest rate again if price trends develop in line with the bank’s forecasts.
