Tokyo inflation data for November - Headline CPI -0.7% y/y (expected -0.5%)

This is the Tokyo area CPI. National level CPI for the month follows in three weeks.

Tokyo CPI -0.7% y/y

• expected -0.5%, prior was -0.3%

Tokyo CPI excluding Fresh Food -0.7% y/y

• expected -0.6%, prior was -0.5%

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

• expected -0.2%, prior was -0.2%

The Bank of Japan target for inflation is 2%, and they have missed that for many, many years. A little later after this data, we'll be getting Japanese authorities, often the economy or finance minister, trying to apply lipstick to this CPI release pig.