Tokyo Core CPI Accelerates for Third Month, Remains Below BOJ Target

The Tokyo metropolitan area's core consumer price index (CPI) rose 1.8% in August, accelerating for the third consecutive month.

This marks the seventh straight month that inflation has remained below the Bank of Japan's 2% target.

The primary driver behind the increase was a rise in food prices excluding fresh food, which saw a growth rate of 1.9% year-on-year.

The index excluding fresh food and energy climbed 2%, hitting exactly the Bank of Japan's 2% target, also known as 'core-core CPI'.