Tokyo area CPI data is due today. The data is for May. National-level CPI data for May 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
Further high CPI readings are expected from this Japanese inflation indicator today. The Bank of Japan keeps telling us they expect inflation to be transitory. That’s what the Fed and others were saying too and it didn’t work out so well.
This
snapshot from the ForexLive economic data calendar, access
it here.
The
times in the left-most column are GMT.
The
numbers in the right-most column are the ‘prior’ (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.
I’ve
noted data for New Zealand and Australia with text as the similarity
of the little flags can sometimes be confusing.