Japan data - Tokyo area headline CPI 3.5% y/y (expected 3.1%)

Tokyo CPI 3.5% y/y,

• expected 3.1%, prior was 3.3%

Tokyo CPI excluding Fresh Food 3.5% y/y,

• expected 3.2%, prior was 3.2%

Tokyo CPI excluding Food, Energy 3.8% y/y, highest since April 1982

• expected 3.5%, prior 3.4%
• this measure of 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 is closest to the US 'core' CPI

These are high readings. The Bank of Japan keeps telling us they expect inflation to be transitory. That's what the Fed and others were saying too and it didn't work out so well.

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Coming later from Japan, the Bank of Japan decision, previews:

• Bank of Japan monetary policy decision due today - preview ("target 128 for end of Q2")

• Preview - BOJ decision due Friday, 28 April 2023: "cannot fully rule out a change" in YCC

• BOJ meet this week - preview - YCC to be abandoned but not until July
• BOJ meeting preview - Deutsche Bank expect a policy revision, 3 scenarios
• Has BOJ Gov Ueda dismissed any change to YCC at this week's policy meeting? Looks like it

• BOJ meeting this week - preview - the BOJ may move on a 5-year JGB target option