Tokyo CPI data here, slowing but core prices still rising:
In this post, you’ll also see household spending for November. This was terrible:
-1.0% m/m
- Expected +0.2% and previous -0.1%
-2.9% on an annual basis
- Expected -2.3%, Previous -2.5%
And in this post you will also see my comment which:
- Core inflation, the core inflation rate (excluding food and energy), which is closest to the US measure of core inflation, remains well above the Bank of Japan’s 2% target and calls for a reduction in accommodative policy.
I wrote it reluctantly at the time. This was the only thing in the data that supported the Bank of Japan’s move to reduce easing. However, the market seems to be acting on the strength of the yen: