Japan’s Tokyo CPI showed significant slowdown in April. CPI core (excluding food) dropped from 2.4% yoy to 1.6%, substantially below the expected 2.2% yoy.
CPI core-core, which excludes both food and energy, also slowed from 2.9% yoy to 1.8% yoy, marking the slowest pace since September 2022.
Services inflation, a significant component of the CPI, decreased from 2.7% yoy to 1.6% yoy. This notable drop is largely attributed to policy interventions by the Tokyo metropolitan government to make some educational tuition free.
Overall headline CPI, which includes all items, also fell from 2.6% yoy to 1.8% yoy.
 dropped from 2.4% yoy to 1.6%, substantially below the expected 2.2% yoy.){kind=link}