Japan Inflation: Tokyo Consumer Price Index eased to 2.9% YoY vs. 2.8% expected, 3.1% prior, USD/JPY retreats

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...

About Tokyo CPI

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.