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Tokyo July CPI data comes in way above the 2% BOJ target rate. Again.
Tokyo area inflation. This is regarded as a leading indicator of nationwide inflation but its not a perfect 1 for 1 indication. The core-core is the 'ex. Food & Energy', which is the closest measure to the US core inflation rate. At 4% that is very robust underlying inflation indeed. The latest nationwide data, for May, showed all three measures of CPI above 3%, where they have been persistent. And yet the BOJ insists inflation is transitory, and the latest we've had from the Japanese government...
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Posted: Jul 27 2023, 23:30
Author Name: forexlive
Views: 111522