Here is the CPI data for Japan, headline, core and core-core
HEADLINE - National CPI y/y for June, 0.4% - in line with expectations
- expected 0.4%, prior was 0.4%
CORE - National CPI y/y excluding Fresh Food for June, 0.4% - in line with expectations
- expected 0.4%, prior was 0.4%
CORE-CORE National CPI excluding Food, Energy y/y for June, 0.0% - another terrible result for the BOJ, but higher than the expected and not worsening from last month (I could probably get a job with the BOJ PR department ;-) )
- expected is -0.1%, prior was 0.0%
- This is the measure of inflation closest to the core measure used in the US & is the one the BOJ will be watching most closely
And, for Tokyo (CPI data is available a month earlier than the National CPI)
Tokyo CPI y/y for July, 0.1% - in line with expectations
- expected 0.1%, prior was 0.0%
Tokyo CPI excluding Fresh Food y/y for July 0.2% - higher than expected!
- expected 0.1%, prior was 0.0%
Tokyo CPI excluding Food, Energy y/y for July -0.1% - in line with expectations
- expected -0.1%, prior was -0.2%
Not a lot to add, this data will not be good news for the Bank of Japan nor the government.
