28 March | Other

Tokyo's inflation rate surpassed Bloomberg economists' forecasts in March

Tokyo's inflation rate surpassed Bloomberg economists' forecasts in March

Tokyo's consumer prices excluding fresh food rose 2.4% in March from a year earlier, surpassing Bloomberg's 2.2% consensus forecast, driven by rising semi-finished products costs. Overall inflation rate accelerated further to 2.9% from February's 2.8%.

The dynamics of the consumer price index may prompt Bank of Japan Governor Kazuo Ueda to reconsider interest rate hikes. Recent economic data indicates inflation is progressing steadily toward the central bank's target.

Bloomberg's experts survey indicates thecountry's monetary authority is likely to hike rates in June or July, aligning with its baseline scenario. However, some analysts now see a non-negligible chance of earlier action in May.

Service sector inflation in Tokyo rose to 0.8% year-on-year in March, up from 0.6% in February, the Bank of Japan is monitoring this reading to gauge underlying price trends in the economy.

Elena Dorohina MarketCheese
Period: 27.05.2025 Expectation: 50000 pips
Buying BTCUSD amid growing institutional adoption with target 110,000
Today at 12:21 PM 30
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 30.05.2025 Expectation: 5000 pips
Tesla shares correct after explosive gains
Today at 08:25 AM 22
Period: 22.05.2025 Expectation: 600 pips
AUDUSD will grow to 0.64900 amid US rating downgrade
Today at 08:20 AM 31
Gold buy
Period: 23.05.2025 Expectation: 6000 pips
US credit downgrade would send gold to 3290
Yesterday at 11:09 AM 129
Period: 26.05.2025 Expectation: 3000 pips
Fundamental factors constrain SPX's growth potential
Yesterday at 08:27 AM 52
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 23.05.2025 Expectation: 700 pips
Silver will drop to 31.7 amid de-escalation of US-China relations
Yesterday at 07:55 AM 30
Go to forecasts