Tokyo Inflation Hits Fastest Pace Since 1982, Fueled by Weak Yen
- Consumer prices rise 3.6%, pointing to quicker nationwide pace
- Bank of Japan sees inflation peaking in the coming months
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Tokyo’s inflation outpaced forecasts to hit its fastest clip since 1982, an acceleration that suggests nationwide price growth will also quicken in November after months of yen weakness and elevated energy costs.
Consumer prices excluding fresh food rose 3.6% in the capital in November, with the faster pace driven by further gains in processed food prices, according to the ministry of internal affairs Friday. The reading was the highest since April 1982 and stronger than a 3.5% forecast by analysts.