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Slight Drop In Japanese Inflation

James Boston
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Slight Drop In Japanese Inflation

European markets are waking up to the latest Japanese inflation figures published early this morning by the country’s statistics bureau. The official inflation rate for Japan year on year to the month of June is now showing 3.6% price growth, this is in comparison to the May reading of 3.7%, economists had predicted this to fall to 3.5% in June. Month on month this headline rate is reading at -0.1%, this compares to the 0.4% experienced in May and a consensus estimated number of 0.35% price expansion.

The Core Inflation number for the Japanese economy was reported as 3.3% for the month of June, this year on year level compares to a May reading of 3.4% and meets the market anticipated reading of 3.3%. The Ex Food and Energy Inflation Rate has come in at a year on year reading of 2.3%, this is in comparison to a 2.2% reading the previous month.

The Tokyo Consumer Price Index (CPI) has also been published, this more up to date figure relates to the month of July. The year on year reading from Tokyo currently stands at 2.8%, this is in comparison to a June reading of 3.0%. The Core Tokyo CPI is now also at 2.8%, this is in line with last month’s 2.8% reading, there was a market consensus estimate of 2.7% predicted for this figure.

Japan also published it’s Corporate Services Price Index for the month of June, this year on year figure remains at 3.6%, the same as the reading in the month of May.
Away from inflation, the Foreign Bond Investment figure for the week ended 18th July has been reported as ¥116.1Bn, this is in comparison to the previous week’s ¥671.5Bn. The Foreign Investment in Japanese Stocks number for the same week is reading at ¥139.2Bn, the previous week’s number here was a negative -¥160.6Bn.

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