Japan - Tokyo headline inflation data for July 0.9% y/y (vs. expected at 1.0%)

Inflation data from Japan, this the Tokyo area CPI for July 2019. National results will follow in three weeks.

Tokyo CPI y/y 0.9%

• expected 1.0%, prior was 1.1%

Tokyo CPI excluding Fresh Food y/y 0.9%

• expected 0.8%, prior was 0.9%

Tokyo CPI excluding Food, Energy y/y 0.8%

• expected 0.7%, prior was 0.8%

The " CPI excluding Food, Energy" measure is closest to the US measure of core CPI.

While this data is only Tokyo area nevertheless a bit of encouragement for the BOJ.

The Bank target is 2%, so still work to do.