Consumer Inflation in Japan’s Capital Hits 33-year High

A woman chooses vegetables at a supermarket in Tokyo, Japan October 21, 2022. Kim Kyung-Hoon/REUTERS

TOKYO - Core consumer prices in Japan’s capital, a leading indicator of nationwide figures, rose 3.4 percent in October from a year earlier, data showed on Friday, marking the fastest annual pace since 1989 in a sign of broadening inflationary pressure.

The rise in the Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes oil costs, exceeded a median market forecast for a 3.1 percent gain and followed a 2.8 percent gain in September.