Tokyo CPI inflation falls slightly less than expected in Oct, below BOJ target
Investing.com-- Consumer price index inflation in Tokyo eased slightly less than expected in October, although core inflation was still seen dropping below the Bank of Japan’s annual target as private spending cooled.- which excludes volatile fresh food prices- grew 1.8% year-on-year in October, government data showed on Friday. The reading was slightly above expectations of 1.7% and fell from the 2% seen in the prior month.
Recent purchasing managers index data showed Japanese business activity weakened in October, especially as local demand waned. National inflation data released last week also showed some cooling in CPI inflation through September., where the central bank is widely expected to keep interest rates unchanged. Before that, a Japanese general election is set to take place this Sunday, with the ruling Liberal Democratic Party facing the possibility of needing a coalition to retain power.
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