Japanese CPI data due out on Friday 25 August 2017; file this away ...

A couple of really quick what-to-expects:

Barclays:

  • We estimate that nationwide core CPI inflation (y/y) strengthened to 0.5% in July. We forecast a gradual pickup to a peak of 0.8% y/y in September, primarily due to base effects in energy components, but look for inflation to ease again after that.

HSBC:

  • Underlying inflationary pressures likely remained soft in July, although broadly remaining in positive territory.
  • Real GDP growth in 2Q17 was firm and should continue to put pressure on already extremely tight labour market conditions.
  • However, wage growth continues to disappoint, with the June average monthly cash earnings actually declining 0.4% y-o-y.

Eamonn:

  • Having just had the windows repaired after last month I expect BOJ Governor Kuroda to go on another 'throwing chairs through windows' rampage again tomorrow
  • (i.e. another set of well below target CPI numbers)

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The data will be released at 2330GMT on 24 August 2017, which is 8.30am Friday 24 August 2017 Japan time