- Tokyo heading CPI inflation cools YoY from 2.6% to 2.4%.
- Tokyo YoY Core CPI prints as-expected at 2.1% versus previous duration’s 2.3%.
Japan’s Customer Price Index (CPI) annualized inflation for the year ended December 2023 reduced back even more as inflation continues to cool within the significant financial centers of Tokyo, printing at 2.4% compared to November’s YoY 2.6%.
Tokyo’s Core CPI (heading CPI less the volatility of fresh food rates) broadly satisfied market expectations, printing at 2.1% for the year through December compared to November’s annualized print of 2.3%.
Tokyo’s ‘Core-Core’ CPI inflation (Core CPI minus energy rates) likewise moved, printing at 3.5% YoY compared to November’s YoY print of 3.6%.
Market Reaction
The USD/JPY sees sedate trading conditions in early Tuesday market action, moving within intraday levels above the 144.00 manage.
About Japan’s Tokyo Consumer Price Index
The Tokyo Consumer Price Index (CPI), launched by the Statistics Bureau of Japan on a regular monthly basis, determines the cost variation of products and services acquired by homes in the Tokyo area. The index is commonly thought about as a leading indication of Japan’s general CPI as it is released weeks before the across the country reading. The YoY reading compares costs in the recommendation month to the exact same month a year previously. Typically, a high reading is viewed as bullish for the Japanese Yen (JPY), while a low reading is viewed as bearish.
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