In their quarterly outlook released yesterday the Bank of Japan downgraded inflation forecasts.

National CPI y/y for March 0.2%

  • expected 0.3%, prior was 0.3%

National CPI y/y excluding Fresh Food for March 0.2%. This is referred to as 'core' inflation for Japan.

  • expected 0.2%, prior was 0.2%
  • 3rd month in a row this measure of inflation has risen.
  • It matched its result for February, which was the fastest its grown since April of 2015

National CPI excluding Food, Energy y/y for March -0.1% .... this is closest equivalent to US 'core' inflation, its often referred to for Japan as 'core-core' inflation

  • expected 0.0%, prior was 0.1%

Tokyo CPI y/y for April -0.1%

  • expected -0.2%, prior was -0.4%

Tokyo CPI excluding Fresh Food y/y for April -0.1%

  • expected -0.2%, prior was -0.4%

Tokyo CPI excluding Food, Energy y/y for April -0.1%

  • expected -0.2%, prior was -0.2%

As is often the case with Japanese economic data, little yen movement on the announcement of the results.