Prices in Tokyo jumped the most in two years on surging food costs, keeping the Bank of Japan (BOJ) on track for another rate hike in the coming months.
Consumer prices excluding fresh food rose 3.6% in the capital in May from a year earlier, accelerating from 3.4% in April, the internal affairs ministry said Friday. The increase, which outpaced economists’ median forecast of a 3.5% gain, was the biggest since January 2023. Overall inflation came to 3.4%, matching a revised 3.4% in April.
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