TOKYO—Consumer inflation in Tokyo slowed below the Bank of Japan’s 2% target but expectations for near-term rate increases remain high, especially given the yen’s renewed weakness. The consumer price index for the Tokyo metropolitan area rose 1.

Inflation in Tokyo slowed below 2% for the first time in five months largely due to energy prices, as the country heads into a general election and the Bank of Japan mulls data for its policy decision next week.

The city’s headline inflation rate fell to 1.8% in October from 2.2% the month before, with core inflation also coming in at 1.8%.

By Makiko Yamazaki TOKYO (Reuters) -Core inflation in Japan's capital in October dipped below the central bank's 2% target for the first time in five months, data showed on Friday, potentially complicating the central bank's quest to raise interest rates further.