Free Trial

MNI BRIEF: Japan Feb Tokyo CPI Rises 2.5% Vs. Jan 1.8%

(MNI)TOKYO

The year-on-year rise in the Tokyo core inflation rate accelerated to 2.5% in February from January's 1.8%, the first acceleration in four months after falling below the 2% target in January, data released by the Ministry of Internal Affairs and Communications showed on Tuesday.

The faster core CPI was within Bank of Japan forecasts, which expected inflation to rebound in February.

The data indicated that nationwide CPI in February will likely rise from January’s 2.0%, supporting the BOJ’s view that the impact of cost-push price hikes continue weakening but services prices will support CPI. (See MNI POLICY: Weak Yen Fuels Wage, Prices; Authorities Vigilant)

The core-core CPI (excluding fresh food and energy) – a key indicator in the underlying trend of inflation – rose 3.1% y/y in February, slowing from January’s 3.3% and staying above the bank’s 2% target for the 21th consecutive month.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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.