Japanese CPI data for January
National CPI y/y: 1.4%
- expected 1.3%, prior was 1.0%
National CPI y/y excluding Fresh Food: 0.9%
- expected 0.8%, prior was 0.9%
National CPI excluding Food, Energy y/y: 0.4% (this is the 'core-core', its the it's the closest to the US measure of core inflation)
- expected 0.3%, prior was 0.3%
The response of the yen is basically nothing ... which is quite usual. Over coming minutes and hours though this result should be a positive yen impact - while inflation (the core-core is the one to watch) is still WAY off target, at least it has moved in the BOJ's desired direction this month, and at a rate exceeding the December result and also exceeding expectations. for January. Its not much, but the BOJ will take it!
