Japan - Tokyo area inflation for May: Headline is 1.1% y/y (expected 1.0%)

Tokyo area inflation data comes out 3 weeks ahead of the nationwide figure.

Tokyo CPI 1.1% y/y

• expected 1.0%, prior was 1.1%

Tokyo CPI excluding Fresh Food 0.9% y/y

• expected 0.9%, prior was 1.1%

Tokyo CPI excluding Food, Energy 0.8% y/y

• expected 0.7%, prior was 0.8%

That final one, excluding Food, Energy is the closest to the US measure of core inflation. While this is only Tokyo data, it is edging a little towards the BOJ target. along way to go though.

---

The most recent we have heard from the BOJ is this yesterday:

• BOJ's Wakatabe: Easy money will be maintained for as long as needed
• BOJ's Wakatabe says won't hesitate to add stimulus if momentum towards price goal is lost