Inflation slows in Tokyo

The pace of core consumer price increases in Japan’s capital city of Tokyo, which is widely considered the bellwether of overall inflation, has slowed. According to government data, core inflation in the Japanese capital rose 3.2 percent year-on-year in May, slower than the 3.5 percent increase seen in April. Tokyo’s consumer price index excluding fresh food fell short of economists’ forecast of 3.3 percent. Overall inflation also rose 3.2 percent. Tokyo’s core consumer price index, which excludes both fresh food and fuel costs, rose 3.9 percent, marking its fastest annual increase since April 1982, according to government data.