Core consumer prices in Japan's capital, considered a leading indicator of nationwide trends, rose 3.6% in November from a year earlier, marking the fastest annual pace in 40 years in a sign of broadening inflationary pressure.
The gain continued to be driven mostly by electricity bills and food prices as companies passed rising raw material costs on to households, clouding the outlook for consumption and Japan's fragile economic recovery.
The last time Tokyo inflation was faster was April 1982, when the core CPI was 4.2% higher than a year before. The Tokyo core-core CPI index, which strips away both fresh food and fuel costs, was 2.5% higher in November from a year earlier, pacing up from a 2.2% annual gain seen in October. Contrary to the experience of some western economies, where wages have surged with inflation, growth in wages and services prices remain muted in Japan.
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