Core consumer prices in Tokyo rose 1.6% year-on-year in June, according to government data released on Friday.
The figure, which includes oil products but excludes fresh food, offers a critical gauge of underlying inflation trends in Japan's capital ahead of broader national statistics.
Similarly, economists forecast Canada's annual inflation rate to rise to approximately 3% in May, also fueled by surging oil prices.
The release comes as global markets navigate persistent inflationary pressures.
Recent data from the United States showed inflation surging to 3.8% in April, the highest level in nearly three years, driven largely by escalating energy costs.
Similarly, economists forecast Canada's annual inflation rate to rise to approximately 3% in May, also fueled by surging oil prices.
For traders, the Tokyo data is a vital input for assessing the Bank of Japan's policy trajectory.