Due at 2330GMT, Japanese CPI data for June and July
National CPI y/y for June,
- expected is 0.4%, prior was 0.4%
National CPI y/y excluding Fresh Food for June,
- expected is 0.4%, prior was 0.4%
National CPI excluding Food, Energy y/y for June,
- expected is -0.1%, prior was 0.0% ... this is the 'core' measure of inflation the BOJ will be watching and its not showing much in the way of life, hence my rather unkind headline
Tokyo CPI y/y for July,
- expected is 0.1%, prior was 0.0% (Tokyo CPI data is available a month earlier than the National CPI)
Tokyo CPI excluding Fresh Food y/y for July,
- expected is 0.1%, prior was 0.0%
Tokyo CPI excluding Food, Energy y/y for July,
- expected is -0.1%, prior was -0.2%
Koichi Hamada (an adviser to Japanese PM Abe on economic matters) played down the importance of the 2% inflation target this week, saying that while the 2% price stability target is good, but having vigorous labour and production markets is more important.
If the Japanese economy (and BOJ/Kuroda performance) was measured on was measured having vigorous labour and production markets it wold be getting better marks indeed.
