Tokyo Inflation Pushes Closer to BOJ Target Amid Middle East Conflict

Tokyo's core consumer prices rose 1.8% in August from a year earlier, exceeding expectations and pushing closer to the Bank of Japan's 2% target.

The data suggests that inflationary pressures are broadening due to the conflict in the Middle East, according to the latest figures released on Friday.

The core consumer prices index beat median market forecasts for a 1.7% gain and followed a 1.7% increase in July, signaling a recent trend of firmer than expected inflation prints from the capital.