Overview

• Tokyo’s 23-ward consumer price index excluding fresh food rose 2.5% year on year in the mid-September preliminary reading.
• The core index stood at 110.0 on a 2020=100 base, according to the Ministry of Internal Affairs and Communications.
• The annual increase was unchanged from August, showing no acceleration in the month’s underlying inflation pace.
• Rice prices were up 46.8% from a year earlier, with the rate of increase narrowing by 21.1 percentage points from the previous month but remaining elevated.
• Food prices, including rice, continue to account for much of the upward pressure in Tokyo’s price levels.