Japan October Core CPI Rises 3.0% Year-on-Year, In Line With Expectations (Update)

(Seoul=Yonhap Infomax) Ji Yeon Kim – Japan’s core consumer price index (CPI) rose in October, matching market expectations.

On the 21st, Japan’s Ministry of Internal Affairs and Communications announced that the core CPI, which excludes fresh food, increased by 3.0% year-on-year in October.

This marks a slight uptick from the previous month’s 2.9% and is in line with the market consensus of 3.0%.

The figure remains well above the Bank of Japan’s (BOJ) 2% target.

Japan’s core CPI has exceeded the BOJ’s target since April 2022.

The headline CPI, which includes both fresh food and energy, rose 3.0% year-on-year, also above the previous month’s 2.9%.

The core-core CPI, which excludes both fresh food and energy, climbed 3.1% year-on-year, up slightly from 3.0% in the previous month.

Market reaction in the currency markets was limited following the data release.

According to Yonhap Infomax’s major overseas FX rates (screen number 6411), the USD/JPY exchange rate was trading at 157.339 yen as of 08:40, down 0.15% from the previous session.

jykim@yna.co.kr

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