Tokyo Core Inflation Tops Forecasts in November

2025-11-27 23:51 By Jam Kaimo Samonte 1 min. read

Core consumer prices in Tokyo’s Ku-area rose 2.8% year-on-year in November 2025, unchanged from October and slightly above market expectations for a 2.7% increase.

The reading stayed above the Bank of Japan’s 2% target and reinforced expectations of a gradual shift toward tighter policy.

Speculation grew that the central bank could raise interest rates in December, supported by concerns over persistent inflation, a weaker yen and diminishing political pressure to keep rates low.

Still, the likelihood of a move next month remains uncertain, with BOJ Governor Kazuo Ueda noting that the economy continues to recover moderately while warning that volatility in global trade policy could weigh on growth and corporate earnings.

Tokyo’s inflation data are closely watched as a leading indicator of nationwide price trends.



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