By Tuba Sahin
ANKARA (AA) – Core consumer prices in Tokyo rose 4% year-on-year in December, the fastest pace in over four decades, according to official data released on Tuesday.
The figure, up from 3.6% in November, exceeded the market forecast of a 3.8% hike.
Tokyo’s core consumer price index, excluding fresh food, stood above the Bank of Japan’s target of 2% for the seventh straight month.
In 2022, core consumer inflation accelerated 2.2% on an annual basis.
The consumer price index in Tokyo, excluding fresh food and energy prices, increased 0.2% month-on-month in December, according to separate data from Japan’s Internal Affairs and Communications Ministry.