FX.co ★ Tokyo Core Inflation Slows to Weakest Since 2022

Core consumer prices in Tokyo’s central wards rose 1.5% year-on-year in April 2026, easing from a 1.7% increase in March and falling short of market expectations for a 1.8% gain. This was the smallest rise since March 2022, reflecting in part a slowdown in processed food inflation, which cooled to 4.6% from 4.9% in March, its lowest level since December 2024. The core inflation rate remained below the Bank of Japan’s 2% target for a third straight month. Even so, the latest reading was influenced by base effects and underscored the impact of government stimulus measures aimed at alleviating price pressures.