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TOKYO, Dec 1 Reuters Core consumer inflation in Japan39;s capital Tokyo likely grew in November but at slower pace than the month before, a Reuters poll of economists showed on Friday, in a sign that price pressures may be easing.

The core consumer price index CPI in Tokyo, a leading indicator of nationwide inflation trends, was expected to have climbed 2.4 in November from a year earlier, according to the median estimate of 16 economists, mainly thanks to falling fuel prices and slower food price increases. That would follow a 2.7 increase in October.

Although government subsidies have been halved, electricity and other prices are expected to fall again as crude oil prices peak out, and the momentum of food price hikes is slowing, said Shunpei Fujita, a deputy chief researcher at Mitsubishi UFJ Research and Consulting.

Although the Bank of Japan has maintained ultraloose monetary policy, many market players expect the Japanese central bank to end both yield curve control YCC and its negative rate policy next year with inflation exceeding its 2 target for more than a year.

Economists in the poll also expected the first monthonmonth contraction in household spending in three months in October, squeezed by price pressures.

Household spending likely dropped 0.2 in October from the previous month and declined 3.0 from the same month a year earlier, according…