Inflation in Tokyo has accelerated for two consecutive months, raising expectations for a central bank interest rate hike

According to Jinshi, inflation in Tokyo, Japan has accelerated for the second consecutive month, making it likely that the Bank of Japan will raise interest rates again in the coming months. Data from the Ministry of Internal Affairs and Communications shows that the core CPI in Tokyo rose by 1.9% year-on-year in July, higher than the market expectation of 1.8%. The "core-core CPI," which excludes fresh food and energy, increased by 2%, and the overall CPI also rose by 2%. Takeshi Minami, chief economist at the Norinchukin Research Institute, stated that inflation is expected to remain above 2%.