Tokyo inflation quickens, keeping BOJ on track for rate hike

Inflation in Tokyo picked up in June on the back of higher energy prices, and industrial output rose more than expected in May, likely keeping the Bank of Japan (BOJ) on track to consider an interest rate hike as early as July.Consumer prices excluding fresh food rose 2.1% in the capital, accelerating from 1.9% in May, the internal affairs ministry reported Friday. The reading exceeded the consensus estimate of 2%.Tokyo’s figures are leading indicators of national data to be released in July.