Japan November Core CPI 3.0% (3.0% expected, prior 2.9%)

Japan November Core CPI 3.0%

• expected 3.0%, prior 2.9%

Headline reads the same, comes in at 3.0%

• expected 3.0%, prior 2.9%

The core-core rate, ie excluding food and energy 3.1%

• expected 3.1%, prior 3.0%

Yen is little changed, USD/JPY circa 157.46.

—

If you were looking for data today to support a December rate hike from the Bank of Japan this will help you out. All 3 at 3% or higher. And, you’re not alone:

• BOJ likely to hike in December as yen slide boosts inflation risk, Reuters poll shows

More here:

• Recap – Japan readies ¥21.3tn (USD 135bn) stimulus, largest since Covid

That’s gotta feed inflation further, right?

As for the yen:

• Yen could hit 160, but rising chance of intervention, economist warns

But we might not have to wait ’til 160:

• Japan trying some verbal yen intervention after the close, can’t blame ’em for trying

This article was written by Eamonn Sheridan at investinglive.com.