Japan data - Tokyo area CPI headline +2.5% y/y (vs. prior 2.6%)

Japan inflation data, Tokyo CPI (Y/Y) September 2025:

• CPI headline 2.5% (expected 2.8%; prior 2.6%)

• CPI ex fresh food (Y/Y): 2.0% (expected 2.8%; prior 2.5%)

• CPI ex fresh food, energy (Y/Y): 2.5% (expected 2.9%; prior 3.0%)

Softer-than-expected Tokyo CPI eases pressure on BOJ.

There is plenty of speculation about of a near term rate hike:

• Another ex-BOJ board member says the Bank could hike next month