Tokyo inflation likely accelerated on suspended energy subsidies: Reuters poll [Yahoo! Finance Canada]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Yahoo! Finance Canada
government's suspension of its gas and electricity subsidies, a Reuters poll showed on Friday. The expected pickup could prod the Bank of Japan, which decided to keep interest rates unchanged at 0.25% on Thursday, to raise borrowing costs in the new year. The core consumer price index (CPI) in Tokyo, a leading indicator of nationwide price trends, was expected to have sped up to 2.5% year-on-year in December from 2.2% in November, the median forecast of 17 economists showed. "With the end of the subsidies for electricity and city gas provided by the government, energy prices are expected to rise, pushing up the core CPI significantly," said analysts at SMBC Nikko Securities. The core CPI includes oil products but excludes fresh food prices. A higher rate of increase in food costs, including rice, is expected to contribute to a rise in inflation as well, the analysts said. The government, though, is set to revive subsidies for electricity and gas prices for three months from
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SMFG
Sec Filings
- 12/5/24 - Form 6-K
- 12/2/24 - Form 6-K
- 11/14/24 - Form 6-K
- SMFG's page on the SEC website