Japan inflation data for March 2022 - Headline inflation +1.2% y/y (expected 1.3%)

Once food and energy (deemed volatile items) are taken out the core inflation rate is negative.

• CPI 1.2% y/y, expected 1.3%, prior was 0.9%
• CPI excluding Fresh Food 0.8% y/y, expected 0.8%, prior was 0.6% (at 0.8% its at its highest since January 2020)
• CPI excluding Food, Energy -0.7% y/y, expected -1.1%, prior was -1.0% (this measure of Japanese inflation is closest to the US 'core' CPI)