Japan’s Tokyo Consumer Price Index release came in better than expected, with Japan data coming in green across the board.
Key highlights
Japan’s year-on-year Tokyo CPI for June came in at 0.7%, better than the expected 0.6% and higher than the previous reading of 0.5%.
Japan’s Jobs/applicants Ratio also improved to 1.60, against the forecast 1.59, which was in-line with the previous figures, while the Unemployment Rate also ticked lower to 2.2%, which was expected to remain steady at 2.5%.
Fuel, light, and water charges led the pack of elements that lifted the CPI reading, rising by 3.2% over the annual period, while medical expenses rose by 2.3% and recreation costs rose by 1.5%. Food only rose by 0.2% while housing costs remained flat at 0.0%. The only decline in the readings was furniture and household items, which declined by a scant 0.3%.
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