Event: Tokyo

The consumer price index excluding fresh food for the Tokyo area, considered a leading indicator for nationwide price trends, rose 1.6% in June from a year earlier. | BLOOMBERG Tokyo’s key inflation gauge picked up for the first time in eight months, keeping the Bank of Japan on a trajectory to raise interest rates further.The consumer price index (CPI) excluding fresh food rose 1.6% in June from a year earlier in the capital, according to data from the Ministry of Internal Affairs and Communications released Friday. The reading was in line with the median forecast in a Bloomberg survey of economists.Forecasters predicted the gauge would accelerate from last year’s reading, which was depressed by certain government relief measures. In a time of both misinformation and too much information, quality journalism is more crucial than ever.By subscribing, you can help us get the story right. SUBSCRIBE NOW