Tokyo inflation data for November – Headline CPI -0.7% y/y (expected -0.5%)
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This is the Tokyo area CPI. National level CPI for the month follows in three weeks.
Tokyo CPI -0.7% y/y
Tokyo CPI excluding Fresh Food -0.7% y/y
Tokyo CPI excluding Food, Energy -0.2% y/y
The Bank of Japan target for inflation is 2%, and they have missed that for many, many years. A little later after this data, we’ll be getting Japanese authorities, often the economy or finance minister, trying to apply lipstick to this CPI release pig.