JAPAN DATA: The year-on-year change in Japan’s core CPI is expected
to be pushed down by around 0.72 percentage point by the planned
revision to the data next month, an economic report released by the
Cabinet Office says. The government will update the CPI base year to
2010 from 2005 and review the basket of goods and services used for
calculating the main consumer price measure. The revision five years ago
pushed down the y/y change of core CPI by 0.5 percentage point, much
larger than the 0.2 percentage point forecast by many economists. The
government will announce monthly CPI data for a period between January
2010 and June 2011 under the new formula at 1700 JST (0800 GMT) on Aug.
12.