The Tokyo area CPI is out at the same time, on a separate post
Japan Jobless rate for December 2.2%
- expected 2.3%, prior 2.2%
Job to applicant ratio for December 1.57
- expected 1.57, prior 1.57
Japan economy … 99 problems but unemployment ain’t one.
The headlines National CPI comes in at 0.2% y/y, a “miss” on estimates.
- expected 0.3%, prior was 0.2%
National CPI y/y excluding Fresh Food is 04% y/y
- expected 0.4%, prior was 0.3%
National CPI excluding Food, Energy is 0.7% y/y a “beat” on estimates
- expected 0.6 %, prior was 0.5%
I generally do not like describing CPI data in terms of misses and beats but made an ex[pcetion today.
The ‘core-core’ referred to is CPI excluding Food & Energy, this is the closest measure to what is termed ‘core’ CPI in the US. As you can see, slightly above the median consensus. While well short of the 2% BOJ target, a tiny bit of good news for the Bank.
Yen doing pretty much nothing on the data release. As is usual.