Japan PPI for May +0.7% m/m (expected 0.5%)

Japan PPI for May a little higher than expected

• +0.7% m/m vs expected 0.5%, prior 0.7% m/m

• +4.9% y/y vs. expected 4.5%, prior 3.6% y/y

In the release is also an indication of consumer prices. The 'domestic final goods prices' index, which is said to loosely correlate with CPI, comes in at +2.4% y/y. Japanese CPI is nowhere near this according to official CPI data.