Tokyo
- Prior was +2.4% y/y
- Overall Tokyo CPI 1.8% vs 2.6% prior
- Excluding food and energy 1.8% vs 2.3% prior
- Excluding food and energy % m/m vs +0.2% prior
This isn't what the Bank of Japan wanted to hear today. Inflation has come down rapidly and there isn't much justification for the Bank of Japan to take a hawkish stance.
This is the first reading below target since Sept 2022.
