Tokyo area CPI data is available three weeks ahead of the national data for the same period. If this results translates to the national figures it'll see long faces again at the BOJ, CPI way below target still.

Do note this …

  • "October's sales tax hike will serve as one factor for lifting inflation temporarily, but that will be offset by government steps to make pre-school education free of charge," said Masaki Kuwahara, senior economist at Nomura Securities. "For the time being, energy-related items will weigh on core inflation, which will remain in a downtrend."

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Bank of Japan next meet October 30 and 31.