Tokyo Inflation Slows Sharply on Education Subsidy Impact [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Price growth in Tokyo decelerated sharply to a pace below 2% in April, in an outcome largely distorted by the start of education subsidies, as the Bank of Japan gathers to decide policy. Consumer prices excluding fresh food rose 1.6% in Tokyo, slowing from 2.4% in March, the ministry of internal affairs reported Friday. A deeper measure of the inflation trend that strips out fresh food and energy prices slowed to 1.8%, compared with the consensus estimate of 2.7%. Article content Article content While the Tokyo CPI data are usually considered a leading indicator for national trends, the April figures were distorted by the start of the education subsidies. That impact won't be mirrored across the country in nationwide data for April due to be released on May 24. The metropolitan government made high school tuition free for all income groups and
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