Japan: inflation in the Tokyo area rises to +2.7 per cent in September, with core inflation at +3 per cent

(Il Sole 24 Ore Radiocor) - The consumer price index for the Tokyo area rose to 2.7 per cent in September from 1.9 per cent recorded in August 2026, marking the most significant increase since November 2025, according to data from Statistics Japan. Inflation exceeded the 2 per cent target set by the Bank of Japan (BoJ) for the first time in nine months, driven by rising oil prices against the backdrop of the conflict in the Middle East, despite the government having increased petrol subsidies.

The core consumer price index – which excludes the volatile costs of fresh food and energy and is regarded by the BoJ as a more reliable indicator of underlying inflation – rose by 3.0 per cent year-on-year, up from 2.0 per cent in August, marking the highest level in the last 13 months.

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