Due at 2330GMT - Tokyo inflation data for May
Tokyo CPI data is available earlier than the National CPI
Tokyo CPI y/y
- expected 0.5%, prior
- was 0.5%
Tokyo CPI excluding Fresh Food y/y
- expected 0.6%
- prior was 0.6%
Tokyo CPI excluding Food, Energy y/y
- expected 0.3%
- prior was 0.3%
Via Nomura:
- We forecast an acceleration in core inflation in the May Tokyo-area CPI data
- We forecast May Tokyo core CPI inflation to come in at 0.7% y-o-y, stronger than the April figure.
- Growth in energy prices looks to have slowed in May again, but we forecast the overall core inflation rate to have gained momentum due to cost increases as a result of the growing labour shortage and an expected lull in the slowdown in core food prices seen in March and April.
- We forecast CPI inflation excluding fresh food and energy (the BOJ's version of core core CPI) of 0.4% y-o-y, up 0.1 percentage points on April.
