Economic calendar in Asia 13 November 2023
Japanese Producer Price Index (PPI) data gives an indication to 'wholesale' inflation:
- the PPI measures a change in input prices of raw, semi-finished or finished goods and services. If input costs rise, some will be absorbed by the producer and some passed on to the consumer. Conversely, if input costs fall, some of the decline will be enjoyed as wider profit margins by the producer and some will be passed on to the consumer in the form of lower prices. Because PPI impacts consumer prices, it is watched by central bankers as part of fulfilling their mandate of price stability. Of course, the Bank of Japan seems still of the opinion that the rise in CPI is transitory, thought their conviction on this is showing signs of wavering, with wage gains expected from mid-2024 potentially providing more stable and sustainable inflation says the bank.
If the PPI surprises to the upside it'll act as a tailwind for USD/JPY, and vice versa.
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.