Core inflation in Japan's capital slips below BOJ's target

This photo taken on October 20, 2024 shows people making their way through a popular street filled with bars and restaurants in the Shinjuku district of central Tokyo. - Richard A. Brooks/ AFP

TOKYO: Core inflation in Japan's capital in October dipped below the central bank's 2% target for the first time in five months, data showed on Friday, potentially complicating the central bank's quest to raise interest rates further.

Closely watched services inflation this month also slowed, casting doubt on the Bank of Japan's expectations that higher wages would broaden cost pressure beyond goods and keep price rises durably around its 2% target.