Japan producer inflation (March): PPI 2.1% y/y (expected 2.0%)

Japanese Producer price inflation (PPI) for MArch, the y/y slightly beating estimates.

2.1 % y/y

• expected 2.0%, prior 2.6%

-0.1 % m/m

• expected -0.1%, prior 0.0%

Earlier we got the core machine orders, also a beat. I noted there at that post the yen supportive nature of the data point,; and this PPI data point is also yen supportive. I did also add an important caveat ... that the BOJ is still way short of its inflation target and thus remains a long way from 'exit' ... but at least inflation is moving in the right direction for them if this beat on the PPI is anything to go on (And feeds into CPI .... a big if it seems).