The core consumer price index (CPI) in Tokyo, Japan, will increase by 4% annually in December 2022, hitting a new high since 1982 and exceeding the 3.8% expected by economists.

(Reuters)

[Financial Channel/Comprehensive Report] The core consumer price index (CPI) in Tokyo, Japan, will increase by 4% in December 2022, hitting a new high since 1982, and also exceeding the 3.8% annual increase expected by economists, further exacerbating the outside world's perception of Japan Expectations that the central bank may adjust policy.

The Tokyo inflation rate has been regarded as a leading indicator of Japan's national inflation rate, which shows that Japan's national inflation rate in December 2022 may also show an accelerating trend, and these data are the Bank of Japan's decision on its monetary policy and updated inflation forecasts key.

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Of the 522 items included in the core CPI data, prices rose for 376 items, according to Japanese Interior Ministry officials.

Among them, the price of processed food increased by 7.5% annually, the fastest since 1976.

Taro Saito, Director of the Economic Research Department of NLI Research Institute in Tokyo, said that inflation is spreading. Given that the prices of some service categories are rising, such as taxis, it is difficult to fully agree with the Bank of Japan. The view that expansion is mainly affected by import costs.

Bloomberg economist Yuki Masujima said that Tokyo's core CPI jumped to 4% in December, which indicates that consumer spending in Q4 in 2022 will not be ideal. Inflation in Japan was initially a cost-driven phenomenon, mainly driven by It was driven by rising imports, but is now spreading to services including restaurants and taxis.

Price growth in Tokyo has exceeded the Bank of Japan's 2% target for seven months in a row, which may not convince Governor Haruhiko Kuroda that the trend will continue. Inflation rate will fall below 2%: Haruhiko Kuroda has repeatedly said that the Bank of Japan will not abandon monetary easing until wages and prices rise steadily,

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