FX.co ★ Tokyo Core CPI Ex Food & Energy Cools Sharply to 0.9% in April

Tokyo’s core consumer inflation, excluding both food and energy, slowed markedly in April 2026, signaling a further easing of underlying price pressures in Japan’s capital. The CPI Tokyo Ex Food & Energy rose 0.9% year-over-year, down from 1.4% in March 2026.

The data, updated on 30 April 2026, show that the year-over-year increase in April is now noticeably weaker than the prior month’s reading, which was also measured against the same period a year earlier. This deceleration in core price growth may add to expectations that inflationary momentum in Japan’s largest metropolitan area is losing steam, a development closely watched by markets as a gauge of broader nationwide price trends and potential implications for future monetary policy.