Japan October headline CPI +2.3% (expected +2.2%, prior 2.5%)

Japan inflation data October 2024, all figures are y/y.

Headline national CPI 2.3%

• expected 2.2%, prior 2.5%

CPI excluding Fresh Food & Energy 2.3% (often referred to as ‘core-core’ inflation, its the closest to US core inflation)

• expected Exp. 2.3%, prior 2.1%

CPI excluding Fresh Food 2.3% (core inflation)

• expected Exp. 2.2%, prior 2.4%

Yen is inching a little stronger after the data. All three measures are above the 2% Bank of Japan inflation target. If you wanted to find an argument for a BOJ December rate hike this’d have to count, no?

This article was written by Eamonn Sheridan at www.forexlive.com.