Japan inflation: Tokyo CPI (May) headline 2.4% y/y (vs. expected 2.7%)

Tokyo inflation data for May 2022

Headline Tokyo CPI 2.4% y/y,

• expected 2.5%, prior was 2.5%

Tokyo CPI excluding Fresh Food 1.9% y/y,

• expected 2.0%, prior was 1.9%

Tokyo CPI excluding Food, Energy 0.9% y/y,

• expected 0.9%, prior was 0.9% (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)

The April nationwide CPI data will be along in about 3 weeks. This Tokyo area data is seen as a bit of a guide. The 'excl food & energy' is well under the BOJ target of 2%. The BOJ have said time and again they expect these readings, higher than they have been for many years (apart from sales tax rise times), to prove transitory. I suspect the BOJ will be correct on this despite other DM banks (cough ... Fed ...) saying the same thing having been spectacularly wrong.