After reinstating energy subsidies to help households deal with high summer temperatures, outgoing Prime Minister Fumio Kishida saw a easing of consumer inflation in Tokyo in September. Consumer prices, excluding fresh food, increased by 2.0%, the slowest rate since May, according to the ministry of internal affairs. This figure aligned with economists’ expectations. The inflation rate, which excludes energy prices, remained at 1.6%.
The decrease in electricity and gas prices played a significant role in the slowdown, with government interventions leading to a 0.5 percentage point reduction in overall inflation. Tokyo’s inflation trends are considered a precursor to national price movements, making this data crucial for economists and policymakers alike.
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