Tokyo Inflation Holds Steady at 2.0% Amid Rising Service Costs

Tokyo's core consumer price index (CPI) rose to 2.0% year-on-year in July, according to data released by Japan's Ministry of Internal Affairs and Communications.

The figure, which excludes volatile fresh food prices, aligns with the Bank of Japan's (BOJ) long-standing 2% inflation target and signals sustained price pressures in the nation's capital.

The July increase was driven primarily by higher costs for processed food, energy, and services. Processed food prices rose 3.8%, while energy costs climbed 1.5%, reflecting a modest rebound in global crude oil prices and the gradual pass-through of utility tariff adjustments.