Momentum in Tokyo inflation weakened in January for the first time since April, slipping more than analysts expected and bolstering the Bank of Japan’s case for continued stimulus.
Consumer prices in the capital, excluding those for fresh food, rose 0.2%, slowing from December’s 0.5% gain, the internal affairs ministry reported Friday. Economists had forecast a 0.3% pace for the leading indicator of national price trends.
Inflation cooled as recent gains in hotel prices petered out. The cost of energy continued to rise, but not enough to make up for the loss.