Consumer prices, excluding fresh food, rose by 2.2% compared to a year earlier, slightly below the 2.3% forecast but still above the BOJ’s 2% target. core inflation, which excludes both fresh food and energy, held steady at 1.9%, indicating stable underlying price growth.
More on the data here:
Tokyo area January inflation data: Headline 3.4% y/y (expected 3%, prior 3%)Tokyo’s inflation rate has been lower than the national average due to local education subsidies. In contrast, nationwide inflation reached 3.2% in January, reinforcing expectations that the BOJ will continue to scale back its monetary easing policies. The central bank projects inflation will remain at or above its 2% target through March 2027.
More from Japan earlier:
BoJ dep gov Uchida says Bank will taper JGB purchases despite yield movesBoJ's Uchida says Japan's economy on a moderate recovery path - some weak spotsJapan January preliminary industrial output-1.1% m/m (vs. expected -1.2%)Japan January retail sales +3.9% y/y (expected +4.0%) This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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