- We are closing down the month on May with Japanese end of month data points.
- Tokyo May CPI headline arrived 1.1% vs 1.2% expected for the year.
The Japanese data dump arrived with Tokyo headline CPI underperforming arriving at 1.1% year on year (y/y) vs 1.2% expected and vs the prior 1.3%.
- Tokyo CPI excluding Fresh Food 1.1% y/y expected 1.2%, prior was 1.3%.
- Tokyo CPI excluding Food, Energy 0.8% y/y expected 1.0%, prior was 0.9%.
Elsewhere, Industrial Production was also released, details to follow shortly…look out for it on FXStreet’s calendar.
- Unemployment rate 2.4% vs 2.4% expected.
About the Tokyo Consumer Price Index
The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services, excluding fresh food. The index captures inflation in Tokyo. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive for the JPY.
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