Tokyo area July inflation data: Headline 2.2% y/y (prior 2.3%)

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Tokyo area July inflation data: Headline 2.2% y/y (prior 2.3%)

Tokyo CPI for July 2024

Excluding Fresh Food & Energy 1.5% y/y

• expected 1.6%, prior 1.8%

 Excluding Fresh Food 2.2% y/y

• expected 2.2%, prior 2.1%

Headline CPI 2.2%

• expected 2.3%, prior 2.3%

USD/JPY fell earlier:

• USD/JPY on the move in early Asia

Not a lot of change since then:

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Tokyo area inflation data:

• National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.
• Tokyo CPI is a sub-index of the national CPI
• It measures the change in prices of goods and services in the Tokyo metropolitan area
• Its considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hub
• Historically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for example

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Tokyo area July inflation data: Headline 2.2% y/y (prior 2.3%)

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