> Japan (Jan.) headline inflation 1.4% y/y (exp. 1.3%) & core-core 0.4% y/y (exp 0.3%)

Japan (Jan.) headline inflation 1.4% y/y (exp. 1.3%) & core-core 0.4% y/y (exp 0.3%)

Eamonn Sheridan

Thursday, 22/02/2018 | 23:30 GMT-0

Japanese CPI data for January

National CPI y/y: 1.4%

expected 1.3%, prior was 1.0%

National CPI y/y excluding Fresh Food: 0.9%

expected 0.8%, prior was 0.9%

National CPI excluding Food, Energy y/y: 0.4% (this is the 'core-core', its the it's the closest to the US measure of core inflation)

expected 0.3%, prior was 0.3%

The response of the yen is basically nothing ... which is quite usual. Over coming minutes and hours though this result should be a positive yen impact - while inflation (the core-core is the one to watch) is still WAY off target, at least it has moved in the BOJ's desired direction this month, and at a rate exceeding the December result and also exceeding expectations. for January. Its not much, but the BOJ will take it!