Japan inflation data for April, headline CPI 0.1% y/y (vs. expected 0.2%)

Japan inflation is well below the Bank of Japan target at 2%

National CPI 0.1% y/y

• expected 0.2%, prior was 0.4%

National CPI -0.2% y/y … slips back into negative for the first time since 2016

• excluding Fresh Food, expected -0.1%, prior was 0.4%

National CPI excluding Food, Energy 0.2% y/y … this one here is the closest to US 'core' inflation

• expected 0.2%, prior was 0.6%

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Still ahead:

• Heads up for the BOJ emergency policy meeting on Friday 22 May 2020