Japan CPI core (all-item less fresh food) improved to -0.1% yoy in March, up from -0.4% yoy, above expectation of -0.2% yoy. But that’s still the eight straight months of negative reading. Further fall in core inflation is expected due to drag from mobile phone fee cuts. All-item CPI rose to -0.2% yoy, up from -0.4% yoy. CPI core-core (all-item less fresh food and energy) also ticked up to 0.3% yoy from 0.2% yoy.
Separately, BoJ Governor Haruhiko Kuroda told reiterated to the parliament, “when Japan’s inflation approaches our target, we will deliberate an exit strategy at our policy-setting meeting including details such as the timing and means for selling ETFs.” But for now, inflation remains distant from target.
