Your current location is:{Current column} >>Text
Tokyo core consumer prices rise at fastest pace in more than a year By Reuters
{Current column}922People have watched
Introduction© Reuters. FILE PHOTO: Shoppers wearing protective face masks, amid the coronavirus disease (COVID-1 ...

TOKYO (Reuters) - Core consumer prices in Tokyo rose at the fastest pace in over a year in November, data showed on Friday, as electricity and fuel costs surged due to higher global energy prices and the costs of overnight stays jumped.
The uptick in prices highlights the chance nationwide inflation will pick up in coming months as pressures from raw material shortages gradually pass through to retailers to consumers.
The core consumer price index (CPI) for Japan's capital, which includes oil products but excludes fresh food prices, rose 0.3% in November compared with a year earlier, government data showed.
That marked the fastest year-on-year rise since July last year, when the index gained 0.4%, but was slightly weaker than a median market forecast for a 0.4% gain.
The Tokyo index, which is considered a leading indicator of nationwide price trends, was pushed up by the biggest year-on-year jump in energy prices in over eight years as well as the fastest rise in fuel costs in more than four decades.
It was also impacted by a 57.6% year-on-year increase in accommodation costs, which was flattered by the low base effects of various travel-related discounts offered by the government last year.
The cost of tuna and other fresh fish also rose, likely due to soaring fuel costs as well as stronger domestic demand, a government official said, though they are not included in the core consumer price index.
Nationwide consumer inflation in Japan has barely risen even as other major economies, such as the United States, are worrying about the risk of too-high inflation after their economies opened up from pandemic-induced lockdowns.
Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!
Tags:
Related articles
Wall St opens higher on upbeat Microsoft, Boeing results By Reuters
{Current column}(Reuters) - Wall Street's main indexes opened higher on Wednesday as strong results from Microsoft ( ...
Read moreGulf nations urge U.S. to stop Israel’s attack on Iranian oil facilities to prevent escalation.
{Current column}According to multiple sources, Gulf countries are jointly pressuring the United States to prevent Is ...
Read moreBrazil's September inflation rose due to soaring electricity costs and drought.
{Current column}In September, Brazil's Consumer Price Index (IPCA) recorded a 0.44% increase, marking a signifi ...
Read more
Popular Articles
- This week in tech: Shares slide at Netflix, Tesla, Alphabet
- India Revises Forex Mgmt Rules
- ECB's Nagel states inflation is still below 2%, and rate cuts shouldn't be rushed.
- The DNC announced voting on August 1
- Bets on Fed pause jump after Fed officials make case to skip rate hike in June By
- The Argentine economy continues to decline, with GDP falling for five consecutive quarters.
Latest articles
-
Fed decision, Icahn targeted, regional lenders slip
-
The Mexican peso edged higher: Optimism following the release of inflation data boosts the peso.
-
Israeli airstrikes kill Nasrallah, Biden faces diplomatic dilemma
-
Focus on the upcoming major interest rate decision from the Federal Reserve
-
Foreign states seek Sudan evacuations after US pulls out diplomats By Reuters
-
Initial jobless claims in the United States drop to a four