Japan inflation data for December (national) and Tokyo (January) is due Friday 26 January 2018

Please note the data is out earlier than most Japanese data, due at 2330 GMT not 2350 GMT.

National CPI y/y for December , expected is 1.1%, prior was 0.6%

  • National CPI y/y excluding Fresh Food, expected is 09%, prior was 09%
  • National CPI excluding Food, Energy y/y, expected is %, prior was %

Tokyo CPI y/y for November, expected is 1.1%, prior was 1.0% (Tokyo CPI data is available a month earlier than the National CPI)

  • Tokyo CPI excluding Fresh Food y/y, expected is 0.8%, prior was 0.8%
  • Tokyo CPI excluding Food, Energy y/y, expected is 0.4%, prior was 0.4%

OK, where was I ... previews via:

Barclays:

  • We estimate that nationwide core inflation (y/y) held at 0.9% in November. We look for core CPI inflation to hover around 1% y/y through March, then ease slightly in Q2 before strengthening again in Q3.

HSBC:

  • Consumer prices increased 0.6% y-o-y in November, while excluding fresh food, the index rose by 0.9% y-o-y, owing to an increase in gasoline and utility prices.
  • Overall, households remain reluctant to spend, while companies are reluctant to raise their prices, leaving inflation way below the Bank of Japan's (BOJ) 2% inflation target.
  • Apart from higher energy prices that have been pushed up by exogenous factors, underlying prices pressures remain absent in the economy. However, in line with the Tokyo prices, we think national headline inflation accelerated slightly in December.

Bolding mine