Japan’s CPI growth slowed from 3.3% yoy to 3.2% yoy, exceeding the expected 2.6% yoy increase. The CPI core (all items excluding food) remained unchanged at 3.1% yoy, in line with expectations. The CPI core-core (all items excluding food and energy) accelerated from 3.5% yoy to 3.8% yoy, surpassing the anticipated 3.4% yoy figure. This marks the 10th consecutive uptick and the highest level since December 1981.
New BOJ Governor Kazuo Ueda has recently committed to maintaining ultra-loose monetary policy. While no major changes to the bond yield control policy are expected at Ueda’s first policy-setting meeting next week, the spreading inflation from energy to the broader economy may keep market expectations alive that BOJ could begin phasing out its massive stimulus later this year. However, this will depend on whether wages increase sustainably and support consumption.
 remained unchanged at 3.1% yoy, in line with expectations. The CPI core-core (all items excluding food and energy) accelerated from 3.5% yoy to 3.8% yoy, surpassing the anticipated 3.4% yoy figure. This marks the 10th consecutive uptick and the highest level since December 1981.){kind=link}