Japan CPI data for August: Headline CPI -0.4% y/y (expected -0.3%)

Japan inflation data for August

• National CPI -0.4% y/y, expected -0.3%, prior was -0.3%

• National CPI excluding Fresh Food 0.0% y/y, expected 0.0%, prior was -0.2%

• National CPI excluding Food, Energy -0.5% y/y, prior was -0.6%

Core inflation (CPI excluding Fresh Food) at 0.0% for the month, its the first time not below zero since July 2020.

As a reminder the Bank of Japan target for core inflation is 2%.