Tokyo inflation for August tops expectations - Latest numbers support case for BoJ to hike rates

Rising costs: People dining in Tokyo. Consumer prices in the capital rose 2.4% in August, accelerating from the 2.2% growth in July. — Reuters

Tokyo: Inflation in Tokyo picked up speed in August, supporting the case for the Bank of Japan (BoJ) to continue raising rates at a gradual pace as the bank balances the need to support the economy.

Consumer prices excluding fresh food rose 2.4% in the capital, an acceleration from 2.2% growth in July, the Internal Affairs Ministry reported last Friday.