Inflation in Japan's capital falls below BOJ target, slows for 2nd month

People are seen at a market street in Tokyo, Japan, January 23, 2017. Picture taken on January 23, 2017. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO : Core inflation in Japan's capital slowed for a second month in April to fall below the central bank's 2 per cent target, data showed on Friday, complicating its decision on how soon to raise interest rates.

The core consumer price index in Tokyo, a leading indicator of nationwide figures, increased 1.6 per cent in April from a year earlier, slowing from a 2.4 per cent gain in March. It compared with a median market forecast for a 2.2 per cent rise. While core inflation is still above the central bank's 2 per cent target, the slowdown highlights uncertainty on whether consumption and wage pressure will strengthen enough to keep price growth durably around that level.

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