Economic data due from Japan – CPI is an important focus this month

From Japan, due at 2330GMT

• National CPI y/y for March, expected is 1.6%, prior was 1.5%
• National CPI y/y excluding Fresh Food for March, expected is 1.4%, prior was 1.3%
• National CPI excluding Food, Energy y/y for March, expected is 0.7%, prior was 0.8%
• Tokyo CPI y/y for April, expected is 3.0%, prior was 1.3%
• Tokyo CPI excluding Fresh Food y/y for April, expected is 2.8%, prior was 1.0%
• Tokyo CPI excluding Food, Energy y/y for April, expected is 2.1%, prior was 0.4%

With reports that the BOJ may raise its inflation forecast, a key factor underlying any rise in the forecasts is likely to be the latest price data from Tokyo. So, today’s data will garner extra attention. The BOJ is due to release revised economic forecasts at their April 30 meeting.