0539 GMT - Based on August inflation results for Tokyo, nationwide consumer prices excluding fresh food are estimated to rise around 1.7% from a year earlier, says Okasan Securities economist Ko Nakayama. The figure for Tokyo was +1.8%, vs. July's +1.7%, Friday's data showed. Tokyo data, released three weeks ahead of nationwide prints, are considered a leading indicator to gauge broader trends. While government subsidies pushed down energy costs in Tokyo, growth in services prices picked up to 1.4% in August from 1.2%. Policymakers and economists see services inflation as a key factor in gauging corporate price-setting behavior, as it tends to reflect hiring costs.
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