Inflation in Japan's capital Tokyo hit 4 percent for the first time in four decades at the end of 2022, lifting speculation over a shift in the Bank of Japan's massive monetary easing stance.
Separate data showed an unexpected fall in overall household spending in November, driven by rising consumer prices.
The consumer price index, or CPI, excluding fresh food rose 4.0 percent in December, faster than the 3.6 percent increase in November, the Ministry of Internal Affairs and Communications reported Tuesday. The core inflation rate exceeded 3.8 percent economists had forecast.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.