The Tokyo inflation data is here:
- Tokyo May 2025 headline CPI +3.4% y/y (3.4% expected)
- Core is at its highest since January 2023
- Core-core is at its highest since January 2024
If these numbers translate into the national level CPI for the month, due ion around 3 weeks, it'll boost Bank of Japan confidence that inflation is solidifying around target and will, at the margin, encourage a rate hike.
Meanwhile, yen is attracting a wee bid, adding to its overnight rebound:
I thought this was significant for the yen bid a little earlier also:
