MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JAPAN DATA: PPI Stronger Than Forecast

JAPAN DATA
APACJapanData BulletBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Japan's September PPI came in above market expectations. In m/m terms we were flat, against a -0.3% forecast, (prior was -0.2%). The y/y outcome rose to 2.8%, against a 2.6% Aug gain and consensus expectation of 2.3% 

  •  The chart below plots the y/y PPI against CPI y/y (nationwide). The PPI holding up from recent lows near flat at the start of the year is consistent with the CPI maintaining recent trends around recent levels, which is comfortably above the 2% long term BoJ target.
  • In terms of the detail, manufacturing edged up slightly (0.1%), while other positives were textiles (+0.9%m/m) and petroleum, coal (+0.9%m/m). Drags came from wood, chemicals and non-ferrous metals. 

Fig 1: Japan PPI and CPI - Y/Y Trends 

Keep reading...Show less
126 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Japan's September PPI came in above market expectations. In m/m terms we were flat, against a -0.3% forecast, (prior was -0.2%). The y/y outcome rose to 2.8%, against a 2.6% Aug gain and consensus expectation of 2.3% 

  •  The chart below plots the y/y PPI against CPI y/y (nationwide). The PPI holding up from recent lows near flat at the start of the year is consistent with the CPI maintaining recent trends around recent levels, which is comfortably above the 2% long term BoJ target.
  • In terms of the detail, manufacturing edged up slightly (0.1%), while other positives were textiles (+0.9%m/m) and petroleum, coal (+0.9%m/m). Drags came from wood, chemicals and non-ferrous metals. 

Fig 1: Japan PPI and CPI - Y/Y Trends 

Keep reading...Show less