Tokyo CPI Holds Steady Amid Stronger Yen

Tokyo's Consumer Price Index (CPI) inflation remained steady in August, showing a year-on-year increase of 1.8%, according to data from the Statistics Bureau.

This was largely in line with expectations and consistent with the previous month's revised figure of 1.7%. The core reading, which excludes fresh food and energy prices, also remained close to the Bank of Japan's annual target at 1.9%.

The slight decline in inflation was attributed to a stronger Japanese yen, which helped bring down some import costs after joint intervention by the U.S. and Japan in currency markets.

However, the overall trend indicates that Japanese inflation remains sticky, with food and living costs continuing to rise. Government subsidies on consumer fuel and gas prices have limited the inflationary effects of surging global oil prices due to the Iran conflict.