Japan Tokyo area inflation for May data for May arrived as follows:
- Headline is 1.1% year on year (expected 1.0%).
- Tokyo area inflation data comes out 3 weeks ahead of the nationwide figure.
- Tokyo CPI 1.1% y/y vs the expected 1.0%, prior was 1.1%.
- Tokyo CPI excluding Fresh Food 0.9% y/y vs the expected 0.9%, prior was 1.1%.
- Tokyo CPI excluding Food, Energy 0.8% y/y vs the expected 0.7%, prior was 0.8%.
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 purchasing power of JPY is dragged down by inflation. Generally, a high reading is seen as positive for the JPY.
Japan May unemployment rate 2.4% (expected 2.4%)
Japan labour market data for May arrived as follows:
- Unemployment Rate 2.4% vs the expected 2.4% and prior 2.4%.
- Job to Applicant Ratio is 1.62 vs the expected 1.63 and prior 1.63.
About the Unemployment Rate
The Unemployment Rate which comes from the Ministry of Health, Labour and welfare and it’s published by the Japan Statistics Bureau, is a measure of the percentage of unemployed in Japan. A high percentage indicates weakness in the labor market which influences the strength and direction of the Japanese economy. Therefore, a low percentage should be taken as positive or bullish for the JPY.
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