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Inflation in Japan's capital slows slightly in May, but remains elevated
Core consumer inflation in Japan's capital, Tokyo, rose 3.2% in May from a year earlier, government data showed on Friday, slowing from the previous month's increase but remaining well above the central bank's 2% target. The stubbornly high inflation in Tokyo, which is seen as a leading indicator of nationwide trends, may keep alive market expectations of a gradual withdrawal of ultra-loose monetary policy later this year. The rise in the Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, compared with a median market forecast for a 3.3% gain and followed a 3.5% ... (full story)