Tokyo May core CPI unexpectedly slowed to 1.3% YoY, the slowest in four years and below consensus 1.5%, marking a sixth consecutive monthly deceleration, the Statistics Bureau said. The BOJ's preferred core‑core CPI (ex fresh food and energy) rose 1.6% YoY. That gauge — adjusted to remove subsidy distortions and last year’s volatile food base effects — is seen as a cleaner measure of underlying price trends. The softer Tokyo inflation complicates BANK OF JAPAN policy communication and leaves the

Tokyo May core CPI unexpectedly slowed to 1.3% YoY, the slowest in four years and below consensus 1.5%, marking a sixth consecutive monthly deceleration, the Statistics Bureau said. The BOJ's preferred core‑core CPI (ex fresh food and energy) rose 1.6% YoY. That gauge — adjusted to remove subsidy distortions and last year’s volatile food base effects — is seen as a cleaner measure of underlying price trends. The softer Tokyo inflation complicates BANK OF JAPAN policy communication and leaves the timing of any near‑term rate move uncertain; officials may still seek to justify tightening as early as next month.