Tokyo¡¯s inflation pace has quickened for a second month, keeping the Bank of Japan on track to raise interest rates again in coming months, after the board stood pat on Friday.
The consumer price index (CPI) excluding fresh food rose 1.9% in July from a year earlier in the capital, the internal affairs ministry reported on Friday. That compared with a 1.8% gain forecast by economists.
A gauge that excludes both fresh food and energy ¡ª closely watched by the BOJ as a gauge of underlying inflation ¡ª gained 2%, while overall consumer prices also rose 2%. The Tokyo CPI is considered a leading indicator for nationwide price trends.
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