Last week we got the 'national' CPI data for Japan in January,
today we get the 'Tokyo' inflation data, but for February:
Tokyo CPI y/y for February 1.4% y/y
- expected is 1.4%, prior was 1.3%
Tokyo CPI excluding Fresh Food y/y for February 0.9% y/y
- expected is 0.8%, prior was 0.7%
Tokyo CPI excluding Food, Energy y/y for February 0.5% y/y
- expected is 0.5%, prior was 0.4%
The important measure is that final one, referred to as 'core-core' its theit's the closest to the US core rate of inflation. The BOJ target is 2%. Still missing. The BOJ produce their own measure of core inflation, see below.
ps. Out at the same time:
Yen ... does nothing. Perhaps we should get Fed Chair Powell to announce the data, he has managed to shove the forex around some today.
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Note (I posted this earlier, but ICYMI ... The Bank produce its own measure of inflation:
- Its intended to be a core measure, a guide to underlying inflation
- Its latest trimmed mean CPI has risen to 0.8%y/y (January), to its highest since August 2014,
- Weighted median CPI shows 0.2% y/y (measure for Q1)
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For background on this release, I posted a preview here
