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MNI BRIEF: Japan June Tokyo CPI Up 2.1% On Energy, Food Costs

(MNI) Tokyo
TOKYO (MNI)

The Tokyo core inflation rate rose 2.1% y/y in June, accelerating from May and for the 10th straight gain, with further increases expected in the months ahead, data from the Ministry of Internal Affairs and Communications showed on Friday.

The core-core CPI measure (excluding fresh food and energy) -- a key indicator in the underlying trend of inflation – rose 1.0% y/y in June following. Energy prices jumped 21.7% y/y in June, but communication costs fell 22.5% y/y in June, unchanged from -May. Prices for eating and drinking services that Bank of Japan officials are focused rose 2.7% y/y in June, See: MNI INSIGHT: Japan's Retail Price Hikes May Falter In 2023).

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The Tokyo core inflation rate rose 2.1% y/y in June, accelerating from May and for the 10th straight gain, with further increases expected in the months ahead, data from the Ministry of Internal Affairs and Communications showed on Friday.

The core-core CPI measure (excluding fresh food and energy) -- a key indicator in the underlying trend of inflation – rose 1.0% y/y in June following. Energy prices jumped 21.7% y/y in June, but communication costs fell 22.5% y/y in June, unchanged from -May. Prices for eating and drinking services that Bank of Japan officials are focused rose 2.7% y/y in June, See: MNI INSIGHT: Japan's Retail Price Hikes May Falter In 2023).