Japan data – Tokyo inflation for January 2023. Headline 4.4% y/y (prior 4.0%) | Forexlive

Tokyo
inflation data for January 2023.

National
level CPI for the month follows in three weeks. The Tokyo data serves as a guide for what to expect from it.

• Tokyo
  CPI 4.4% y/y, expected 4.0%, prior was 4.0%

• Tokyo
  CPI excluding Fresh Food 4.3% y/y, expected 4.2%, prior was 4.0% (4.3% is the quickest since May of 1981)

• Tokyo
  CPI excluding Food, Energy 3.0% y/y, expected 2.9%, prior was 2.7% (this
  measure of Japanese inflation is closest to the US ‘core’ CPI)

Higher, higher, higher. All three measures.

This’ll keep ‘BOJ exit’ chatter on the boil and serve as a tailwind for yen.

USD/JPY taking a hit: