30.03.202623:30:00UTC+00Tokyo Core CPI Ticks Higher in March, Hinting at Gradual Underlying Price Momentum

Japan’s Tokyo Core CPI excluding food and energy inched up in March 2026, signaling a modest firming in underlying price pressures in the capital. The indicator, which strips out the typically volatile food and energy components, rose to 0.4% month-over-month, up from 0.3% in February 2026.

The data, updated on 30 March 2026, show that the pace of core price growth in Tokyo is gradually accelerating when compared month-over-month. The “actual” March reading reflects the change versus February, while the “previous” figure captures February’s change relative to January. Although the move is slight, the uptick may be watched closely by markets as a potential early signal of shifting inflation dynamics in Japan’s largest city.