While all three measures remained above 2% they did drop back a little from August. Officials from the Bank of Japan have been insistent that inflation would begin to fall back from September/October this year, they'll be wiping some sweat off the brow with this result.
The 'ex. Food & Energy' is the closest measure to the US core inflation rate. Its referred to as core-core inflation. It's a key measure of underlying inflationary pressure, and its still very strong at 3.8%. The m/m however is down 0.2% from August's +0.4%.
Labour market data for August was also published. Jobs are not scarce in Japan.
- National-level CPI data for August will follow in about three weeks, it takes longer to gather and collate the national data.
- Tokyo CPI is a sub-index of the national CPI
- It measures the change in prices of goods and services in the Tokyo metropolitan area
- Its considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hub
- Historically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for example