Tokyo inflation data for November, headline is 0.8% y/y (vs. expected 0.6%)

This is not national CPI but rather that for Tokyo. Its not necessarily a perfect guide to what national inflation will be for November, but its something of a guide.

Tokyo CPI 0.8% y/y, higher than expected

• expected 0.6%, prior was 0.4%

Tokyo CPI excluding Fresh Food 0.6% y/y, a core measure, in line with estimates

• expected 0.6%, prior was 0.5%

Tokyo CPI excluding Food, Energy 0.7% y/y, also a core measure & in line with estimates

• expected 0.7%, prior was 0.7%

National CPI data will come out in 3 weeks.

The BOJ target for core inflation is 2%. Its not even close.