Japan September CPI
Headline inflation 2.9% y/y
- expected 2.9%, prior 2.7%
National CPI ex Fresh Food 2.9% y/y
- expected 2.9%, prior 2.7%
National CPI ex Food, Energy 3.0% y/y
- prior 3.3%
Service-sector prices rose 1.4% y/y in September
- 4.2% increase in goods prices
indicative of firms only gradually passing on higher labour costs.
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If Bank of Japan Governor Ueda is grasping for reasons to hike rates, here are 3 for him!
Markets seem overly focused on politics right now, and the likely hood of substantial fiscal stimulus from new PM Takaichi, along with her desire to hold rates low. I'm not so sure her and Ueda will see eye-to-eye on rates.
