Core consumer prices in Tokyo rise at fastest pace in over 2 years
Core consumer prices in Tokyo climbed 3.6 percent in May from a year earlier, rising at the fastest pace in over two years, official data showed Friday, as the cost of rice remained on a sharp upward trajectory.
The rise in Tokyo's core consumer price index, excluding volatile fresh food items, followed a 4.3 percent jump in January 2023, the highest in nearly 42 years, due partly to Russia's protracted war in Ukraine and the yen's depreciation.
The core CPI in Japan's capital, viewed as an indicator of nationwide trends, was driven up by soaring rice prices in May, which climbed 93.7
In early May, the average price of rice, the nation's staple food, reached a record 4,268 yen per 5 kilograms in Japanese supermarkets, roughly double the previous year's level, following a poor harvest, the agriculture ministry said.
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