The consumer price index, which looks at the price movements of goods and services consumed at home, was announced on the 6th in the 23 wards of Tokyo as of the middle of last month, which is attracting attention as a leading indicator of the national index.
Excluding fresh foods, which are subject to large fluctuations due to weather, the index exceeded the same month last year by 1.9%, the first increase in about seven years.
The preliminary figures for the consumer price index for the 23 wards of Tokyo as of the middle of last month released by the Ministry of Internal Affairs and Communications were 101.3 with the index excluding fresh food as 100 in 2020, which was 1.9% higher than the same month last year.
The index has surpassed the same month last year for eight consecutive months, the largest increase in about seven years.
Against the backdrop of soaring crude oil prices, electricity prices were 25.8%, city gas prices were 27.6%, and gasoline prices were 14.3%, up from the same month last year.
In addition, “food excluding fresh food” increased by 2.3% due to the rise in raw material prices.
Last month's national index is set to be released on the 20th of this month, and it will be watched whether the BOJ will reach the target of 2% to break out of deflation.