Japanese inflation data ahead of the Bank of Japan announcement due later
National CPI y/y for June, -0.4%
- expected -0.4%, prior was -1.1%
National CPI y/y excluding Fresh Food for June, -0.5%
- expected -0.4%, prior was -0.4%
National CPI excluding Food, Energy y/y for June, 0.4%
- expected 0.5%, prior was 0.6%
Tokyo CPI y/y for July, -0.4%
- expected -0.5%, prior was -0.5%
Tokyo CPI excluding Fresh Food y/y for July, -0.4 %
- expected -0.4%, prior was -0.5%
Tokyo CPI excluding Food, Energy y/y for July, 0.3%
- expected 0.3%, prior was 0.4%
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What jumps out is the:
National CPI excluding Food, Energy y/y for June, 0.4%
- expected 0.5%, prior was 0.6%
(This excluding Food, Energy is referred to as the' core-core' inflation rate, its very similar to the 'core' inflation rate used in the US)
A miss, and below previous result, and still far, far from the Bank of Japan's 2% target.
Not good news for the Bank of Japan, and it boosts the chances we will see more easing from them today
