Economist: Tokyo CPI data unlikely to accelerate BOJ rate hike

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ME News, June 26 (UTC+8), Takuya Hoshino, an economist at Dai-ichi Life Research Institute in Japan, said that consumer inflation in the Tokyo metropolitan area rebounded for the first time in eight months in June, but this result does not necessarily accelerate the pace of interest rate hikes by the Bank of Japan. "Although the data shows that prices have underlying resilience, it is currently not enough to raise concerns about the accelerated pass-through of costs to consumers, as the Bank of Japan has stated," he said. "This is unlikely to prompt the Bank of Japan to raise interest rates earlier." Tokyo's consumer prices excluding fresh food rose 1.6% in June from a year earlier, compared with a 1.3% increase in May. Data from Tokyo is seen as an early indicator of national trends. (Jin Shi) (Source: ODAILY)
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