- Overall Household Spending y/y for February, -2.5%, expected 0.1%, prior was 1.1%
- Jobless Rate for February, 3.6%, expected 3.7%, prior was 3.7% – lowest since July 2007
- Job-To-Applicant Ratio for February, 1.05, expected 1.05, prior was 1.04
- National CPI y/y for February, 1.5% (expected 1.5%, prior was 1.4%)
- National CPI y/y excluding Fresh Food for February, 1.3%, expected 1.3%, prior was 1.3%
- National CPI excluding Food, Energy y/y for February, 0.8%, expected 0.8%, prior was 0.7%
- Tokyo CPI y/y for March, 1.3%, (expected 1.2%, prior was 1.1%)
- Tokyo CPI excluding Fresh Food y/y for March, 1.0%, expected 0.9%, prior was 0.9%
- Tokyo CPI excluding Food, Energy y/y for March, 0.4% expected 0.5%, prior was 0.5%
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And, whaddya know, yen basically non-responsive to the data release, barely changed
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The CPI figures are all at or above expectations (except for Tokyo core-core), which the administration will be overall content with. What they won’t be happy with is the household spending results, which is very poor indeed, especially given everyone has been expecting a decent spending surge ahead of the sales tax hike.
