Tokyo inflation data for January 2023.
National level CPI for the month follows in three weeks. The Tokyo data serves as a guide for what to expect from it.
Tokyo CPI 4.4% y/y, expected 4.0%, prior was 4.0%
Tokyo CPI excluding Fresh Food 4.3% y/y, expected 4.2%, prior was 4.0% (4.3% is the quickest since May of 1981)
Tokyo CPI excluding Food, Energy 3.0% y/y, expected 2.9%, prior was 2.7% (this measure of Japanese inflation is closest to the US 'core' CPI)
Higher, higher, higher. All three measures.
This'll keep 'BOJ exit' chatter on the boil and serve as a tailwind for yen.
USD/JPY taking a hit:
