This is the inflation data for the Tokyo area - this time next week we'll get the national CPI result published
Tokyo CPI 0.5% y/y
- expected 0.8%, prior was 1.0%
Tokyo CPI excluding Fresh Food 0.6% y/y
- expected 0.8%, prior was 0.8%
Tokyo CPI excluding Food, Energy 0.3% y/y
- expected 0.5%, prior was 0.5%
- (this is 'core-core' inflation, closest to the US measure of core inflation - note its for Tokyo area only, not national ... K?)
To the extent that this gives a heads up to the more closely watched national CPI data this will be a disappointment to the BOJ and Japanese administration who are wanting to see inflation hit the Bank's 2% target .
There had been expectations that inflation would turn down again as 2018 progressed, and it seems that is coming on a little quicker than was thought.
While the BOJ holds on to their 2% inflation target there will be no early exit to easy monetary policy.
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Still on the way later from Japan .... hey, hey, hey its the BOJ!
