Tokyo inflation rise faster-than-expected in January
Tokyo’s core consumer prices, a forward-looking indicator used to track price movements for the country, rose 1.1% on a year-on-year basis in January. Economists had expected a 0.9% price gain.
A pick-up in electricity and gas prices pushed core consumer prices in Tokyo to climb faster-than-expected in January, data from the Ministry of Internal Affairs and Communications showed on Friday.
Tokyo’s core consumer prices, a forward-looking indicator used to track price movements for the country, rose 1.1% on a year-on-year basis in January. Economists had expected a 0.9% price gain.
Tokyo’s overall Consumer Price Index edged up 0.4% in January from a year earlier, increasing in the same pace as the preceding month.
Consumer inflation forecasts lowered, 2.0% inflation target remains elusive
On Wednesday, Japan’s central bank cut its consumer inflation forecasts and maintained its massive stimulus program but Governor Haruhiko Kuroda had warned of the growing risks to the economy due to global trade tensions.
Core consumer inflation was lowered from 1.4% projected last October to 0.9% for the coming fiscal year, due to lower oil prices.
Japan’s central bank however, was positive on its growth outlook for the country for this year, and is expecting it to remain steady even as the country's slated consumption tax hike will be taking place in October.
The Bank of Japan has been struggling to keep to its inflation target of 2.0% amid depressed wages and softening economic activity.
At 5.14pm Tokyo time on Friday, the Japanese Yen changed hands at ¥109.76 against the United States dollar.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
