Tokyo area May inflation data: Headline 2.2% y/y (prior 1.8%)

All three of the major measures of inflation in Tokyo rose on the month. Surrounding the BoJ’s 2% target level.

Also out were jobs data, the unemployment rate flat at 2.6%

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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.