In Japan, Tokyo’s inflation profile showed little moderation in November, with both core CPI and core-core CPI staying at 2.8% yoy. The readings came in slightly firmer than expected, while headline CPI eased just one-tenth to 2.7%. The stability of these measures indicates that underlying inflation momentum remains intact.
Much of the price momentum came from food, where sharp gains continued. The cost of rice surged 38.5% yoy, coffee beans rose 63.4%, and chocolate jumped 32.5%, reflecting broad price pressures across essential and discretionary categories.
Meanwhile, goods inflation climbed 4.0% yoy. Services inflation eased only marginally to 1.5% from 1.6%.
