Tokyo’s annual consumer price increase excluding fresh food slowed to 2.6% in October, while headline inflation rose to 2.8%. The preliminary estimate for the capital’s central wards showed easing price growth when energy was also excluded. Food and rent continued to raise living costs, with falling rice prices offsetting part of the increase.
Economics & Markets··Morning
Core inflation slows as the headline rate rises
Consumer prices excluding fresh food in Tokyo’s central wards rose 2.6% from a year earlier in October, easing from September’s 2.7%. Japan’s Statistics Bureau released the preliminary estimate on October 30, using prices observed around mid-month. The headline annual increase moved in the opposite direction, rising from 2.7% to 2.8%.[1], [2]
Prices also rise from the preceding month
Excluding both fresh food and energy, annual inflation slowed from 2.9% to 2.6%. On a seasonally adjusted monthly basis, prices rose 0.5% for the headline basket, 0.3% excluding fresh food and 0.2% excluding fresh food and energy. The headline index reached 103.5, with the 2025 average set at 100. The estimate covers the capital’s central wards ahead of national results.[1]
Food and rents add to household costs
Eating-out prices increased 4.6% from a year earlier and rents rose 1.9%. Fresh vegetables rose 10.5% and fresh fish and seafood increased 14.2%. Meat prices rose 6.4% and accommodation prices increased 6.7%. Cereal prices fell 7.2%. Non-glutinous rice excluding Koshihikari fell 31.3%. Nursery fees also declined, offsetting part of the annual rise in other prices.[1]