Tokyo Core Inflation Lowest Since 2022

2026-04-30 23:35 By Chusnul Chotimah 1 min. read

Core consumer prices in Tokyo’s central wards rose 1.5% year-on-year in April 2026, easing from 1.7% in the previous month and missing market expectations for 1.8%.

The reading marked the slowest pace since March 2022, indicating a moderation in price momentum.

Inflation remained below the Bank of Japan’s 2% target for a third consecutive month, as temporary factors, namely fuel subsidies and favorable base effects, helped cushion the impact of higher raw material costs linked to the Middle East conflict.

Despite the softer print, underlying price pressures appear intact.

Analysts expect inflation to re-accelerate in the coming months, driven by elevated oil prices and rising import costs amid a weaker yen.

This outlook is likely to keep the Bank of Japan under pressure to consider further policy tightening.



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