Tokyo Core Inflation Rate Surges to 10-Month High

The Tokyo core inflation rate jumped to its fastest pace in 10 months in September, reaching 2.7% year-over-year.

This is the first time since January that the figure exceeded the Bank of Japan's (BOJ) 2% target.

According to the data, prices rose for a broad range of food items and daily necessities due to rising raw material costs.

The BOJ will consider this data when updating its quarterly inflation forecasts at its next policy meeting on October 29-30.