Tokyo Consumer Price Index (CPI) s.a. m/m

Tokyo Consumer Price Index (CPI), s.a., m/m shows changes in prices for goods and services purchased by households in the Tokyo region. The index estimates the price change from the consumer perspective, in the given month compared to the previous month. The calculation includes goods and services, which characterize household spending, and it does not include taxes and social payments.

Prices for some goods and services, especially for certain types of fruits and vegetables, are subject to noticeable seasonal fluctuations, which usually have a cyclical nature. An adjustment is applied to avoid seasonal effects and to enable efficient month-over-month CPI comparison.

Tokyo CPI is released before the national CPI, and provides for a preliminary assessment of inflation in the country.

The index is created based on retail price statistics surveys released by the Ministry of Internal Affairs and Communications. The statistics collection started in August 1946. Common statistics refer to the National Consumer Price Index, unlike one-region indexes such as Tokyo Metropolitan District Consumer Price Index.

Tokyo is a huge city, and prices tend to be higher in comparison with other regions. In particular, there are places where the rent is several times higher than in other areas, causing the consumption action to be suppressed. However, since the average income is also large, it is in a state that cannot be said unconditionally.

The index value that exceeds the forecast value has a positive effect on yen quotes.