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Japan data - May CPI Headline 2.8% y/y vs. 2.9% expected

2024-12-30FOREXLIVEFOREXLIVE
Core measures are rising more slowly than the headline

The 'core-core' rate of inflation in May (core-core is that excluding food and energy, it's the closest to the US measure of core inflation) has shown its slowest rise since September 2022.

The 'core' rate, which excludes fresh food, jumped from April though. This will keep the prospect of the BoJ rate hike alive.

Japan may 2024 inflation 2

A few minutes ago MoF official Kanda gave an intervention warning:

  • Japan's Kanda says ready to take action if excessive FX move seen

He knocked around 10 pips off USD/JPY, but that's all in the past with it now hitting 158.94

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