The Tokyo Consumer Price Index for inflation in Japan decreased to 2.9% compared to the expected 2.8%, and lower than the previous rate of 3.1%. This caused a change in the USDJPY exchange rate to retreat from 145.991.
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Early Friday morning in Asia, the Statistics Bureau of Japan released monthly prints of the Tokyo Consumer Price Index (CPI) for August.
That said, the headline Tokyo CPI eases to 2.9% YoY from 3.2% prior, versus 3.0% market forecasts
More to come…
The Tokyo Consumer Price Index is released by the Statistics Bureau and it’s a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services. The index captures inflation in Tokyo. CPI is the most significant way to measure changes in purchasing trends. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive.
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