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Core CPI Japan YoY

Event Date: Monday, December 4, 2023
Event Time: 23:30 CET

Inflation to Slow Again in Japan

Updated Monday, December 4, 2023
Inflation has been weak in Japan for decades, but now that inflation has weakened considerably across the globe, japan has been feeling it even more. The Bank of Japan seems to have thrown the towel in regard to their 2% target. Core inflation has been below 15 for quite some time, although it has picked up a bit in recent months. Core CPI has increased to 0.7% YoY in April and May, from around 0.4%-0.5% at the beginning of this year, Although core CPI ticked higher to 2.7% in October and is expected to move lower again to 2.4% in July. Please follow our experienced analysts for live coverage of this event.

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About Core CPI Japan YoY
Change in the price of goods and services purchased by consumers, excluding food and energy. Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The BOJ usually pays the more attention to the Core data - so do traders. There's a revised version of this indicator released about 5 days later, but it's not included for lack of significance. Source first released in Nov 2015. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandateCore CPI is viewed as the most accurate representation of inflationary pressures facing the Japanese economy. As a result, it serves as an important resource for the crafting of monetary policy by the bank of Japan. High readings are often precursors for the tightening of monetary policy, while low numbers encourage a dovish stance toward the JPY.
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