• Consumer prices excluding fresh food rose 4.3% in the capital, accelerating from December’s revised figure of 3.9%, according to the ministry of internal affairs Friday. The reading was the strongest since 1981 and higher than analysts’ estimates of a 4.2% gain, rising further beyond the central bank’s 2% target.
• The yen gained to around 129.65 against the dollar from just below 130.00 immediately before the data was released. Tokyo’s data is a leading indicator of the national trend, and its acceleration implies that the country’s price growth hasn’t reached its peak yet. Still, many economists expect inflation to begin slowing again from February, when the effects of the government’s stimulus measures begin to emerge.