Japan March CPI data: CPI excluding Fresh Food 3.1% y/y (vs. expected 3.1%)

Japanese inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data for March 2023

Headline CPI Headline CPI The headline Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by consumers for a basket of goods and services. Headline CPI is a term that traders use to avoid confusion with core CPI, which strips out the volatile prices changes of food and energy. It is a widely used measure of inflation, and is calculated and published by statistical agencies, such as Statistics Canada and the Bureau of Labor Statistics (BLS) in the United States.The basket of goods The headline Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by consumers for a basket of goods and services. Headline CPI is a term that traders use to avoid confusion with core CPI, which strips out the volatile prices changes of food and energy. It is a widely used measure of inflation, and is calculated and published by statistical agencies, such as Statistics Canada and the Bureau of Labor Statistics (BLS) in the United States.The basket of goods Read this Term 3.2% y/y

• expected 3.2%, prior was 3.3%

CPI excluding Fresh Food 3.1% y/y

• expected 3.1%, prior was 3.1%

CPI excluding Food, Energy 3.8% y/y (this measure of Japanese inflation is closest to the US 'core' CPI)

• expected 3.4%, prior was 3.5%
• this is the 12th consecutive rise for this measure

Those two core figures are sticky indeed. The excluding Food and Energy is surging (by Japanese standards).

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Bank of Japan Governor Ueda has been repeating that he expects inflation to drop from around September/October. There is a BOJ policy meeting next week and, so far, indications are that there will be no significant change. The 'but' on this is that the Bank of Japan has said it won't be telegraphing policy moves in advance:

• The Bank of Japan (BOJ) will never make a move when the market expects it
• Japan ex-MOF currency official says the BOJ should suprise markets with change to YCC

Bank of Japan Governor Ueda