TechFlow, Dec 26 — Tokyo's inflation cooled more than expected as pressures from food and energy prices eased, but this is unlikely to stop the Bank of Japan from continuing to raise interest rates. Data released Friday by Japan's Ministry of Internal Affairs showed that Tokyo's consumer price index (CPI) excluding fresh food rose 2.3% year-on-year in December, a clear slowdown from the previous month's 2.8%. This marks the first deceleration in inflation since August, mainly reflecting slower food price increases and declining energy costs. Economists had previously expected the figure to slow to 2.5%. The overall inflation gauge fell to 2.0% from 2.7% a year earlier, while the deeper measure of inflation, which excludes energy prices, also slowed to 2.6%. Tokyo's inflation data is often seen as a leading indicator of national inflation trends. Despite the noticeable slowdown in overall inflation, it remains above the Bank of Japan's 2% target, keeping the central bank on track for further policy tightening.
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