Leading gauge of Japan consumer inflation to creep to near 2% in April- Reuters poll

div classBodysc17zpet90 cdBBJodivpTOKYO Reuters – A Reuters poll showed core consumer prices in Tokyo likely rose at the fastest pace in seven years in April, to near the Bank of Japans 2 target, in a sign of the broadening impact of global commodity inflation.p

pThe Tokyo inflation figure, a leading indicator of nationwide price moves, will likely ensure the central bank remains under close scrutiny by market watchers for clues on how quickly it could modify its currently dovish policy guidance.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe Tokyo core consumer price index CPI, which includes energy but excludes fresh food prices, was expected to increase 1.8 in April from a year earlier, according to the poll of 14 economists.p

pThat would follow a 0.8 rise in March and mark the fastest gain since March 2015, when the index rose 2.2 yearonyear.p

pThe increase will be driven largely by rising raw material costs and the fading impact of past cellphone fee cuts, analysts say.p

pThe government will release April Tokyo CPI data on May. 6 at 8:30 a.m. May. 5, 2330 GMT.