The rate of core-core inflation (this is the excl food and energy and is the closest measure to the US 'core' CPI has risen from April and is not at its highest since April 1982. Enrgy costs fell a little in the month due to subsidies for electricity and gas supplies.
Note that this is inflation as measured in the Tokyo area. This is regarded as a leading indicator of nationwide inflation but its not a perfect 1 for 1 indication. We await May inflation for Japan as a while that'll be published in around 3 weeks.
USD/JPY is up about 10 points on the data, straddling 140.
