Japan: CPI surged to 0.4% from 0.2%, rising as expected - BBH

The analysis team at BBH points out that today Japan reported its April inflation and the consumer prices ticked up as its headline CPI rose to 0.4% from 0.2%, which was precisely what was expected.  

Key Quotes

“Fresh food prices rose sharply, and when then excluded to get to what is the BOJ's core measure, prices rose 0.3%.  It was expected to rise a bit faster after 0.2% in March.  In addition, energy rose 4.5% and contributed to the headline increase.  Excluding both fresh food and energy, Japan's CPI was flat after falling 0.1% in March.  Separately, Japan reported that rising advertising, hotels, and construction lifted producer service prices 0.7% from a year ago, down from 0.8% in March.”