Japan PPI for October
-0.4% m/m
- expected 0.0%, prior -0.3%
+0.8% y/y
- expected +0.9%, prior +2.0%
- first time under 1% since February 2021
Slowing inflation at the business level, indeed deflation m/m, in Japan makes the case for an imminent tightening of Bank of Japan monetary policy not imminent at all!
Bank of Japan Governor Ueda