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Tokyo's core consumer prices rise at fastest pace in nearly 8 years

Further increases in city expected even as nation's inflation tops BOJ target

People view computers at an electronics store in Tokyo. The core consumer price index for Tokyo gained 2.6% in August. (Photo by Tetsuya Kitayama)

TOKYO (Reuters) -- Core consumer prices in Japan's capital Tokyo rose in August at their fastest pace in nearly eight years, as inflationary pressures broadened due to higher fuel and raw material costs.

The core consumer price index for Tokyo gained 2.6% in August, above the median market forecast for a 2.5% rise in a Reuters poll. The pace of increase, which followed a 2.3% gain in the previous month, was the fastest since October 2014.

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