Japan PPI for October: 2.9% y/y (expected was 2.8%)

Japanese producer price index for October 2018

Inflation at the wholesale level … not showing up in CPI (core)

Comes in at 0.3% m/m

• expected 0.1% m/m, prior 0.3%

and 2.9% y/y

• expected 2.8% y/y, prior 3.0%

One of the details in the report is 'domestic final goods prices', which is an indicator for prices at the consumer level, comes in at 0.6% y/y. The BOJ target is 2% (for core inflation), so, no there yet.