Japan CPI data for January, headline inflation 0.7% y/y (expected 0.7%)

Inflation data from Japan for January

National CPI 0.7% y/y

• expected 0.7%, prior was 0.8%

National CPI 0.8% y/y excluding Fresh Food

• expected 0.8%, prior was 0.7%

National CPI excluding Food, Energy 0.8% y/y

• expected 0.8%, prior was 0.9%

CPI rates were given a step up by the sales tax hike on October 1 2019

Yen showing little response to the data point.