Japanese inflation: Headline CPIs uptick both National, Tokyo

Japanese inflation numbers for the month of October (National) and November (Tokyo) came higher than expected, both in national terms and in Tokyo. The numbers, while still far from the Bank of Japan's 2% inflation target, suggest that some improvement in the headlines numbers. As per the readings excluding fresh food and energy, the progress is much more subdued, with levels still nearing the 0% mark. Overall, there is no much to read into the numbers that may have a short term impact into BoJ's policies.

Key headlines

Tokyo CPI ex Fresh Food (YoY) (Nov)  came at -0.4% vs -0.4% exp and -0.4% last

Tokyo Consumer Price Index (YoY) (Nov) stood at 0.5% vs 0.1% last

Tokyo CPI ex Food, Energy (YoY) (Nov) came at 0% vs 0.1% last

National Consumer Price Index (YoY) (Oct) stood at 0.1% vs -0.5% last

National CPI Ex-Fresh Food (YoY) (Oct) was -0.4% vs -0.4% exp and -0.5% last

National CPI Ex Food, Energy (YoY) (Oct) came at 0.2% vs 0% last