Japan National Headline CPI for June 2021: 0.2% y/y (vs. expected -0.1%)

Japan inflation data for June 2021

National CPI 0.2% y/y,

• expected -0.1%, prior was -0.1%

National CPI excluding Fresh Food 0.2% y/y,

• expected 0.2%, prior was 0.1%

National CPI excluding Food, Energy -0.2% y/y,

• expected -0.5%, prior was -0.2%

The Bank of Japan target for core inflation is 2% y/y. Zero surprise that that target remains well away from current level.