Japan Tokyo CPI jumps to 0.7%

Joshua Gibson FXStreet

Japan's Tokyo Consumer Price Index release came in better than expected, with Japan data coming in green across the board.

Key highlights

Japan's year-on-year Tokyo CPI for June came in at 0.7%, better than the expected 0.6% and higher than the previous reading of 0.5%.

Japan's Jobs/applicants Ratio also improved to 1.60, against the forecast 1.59, which was in-line with the previous figures, while the Unemployment Rate also ticked lower to 2.2%, which was expected to remain steady at 2.5%.

Fuel, light, and water charges led the pack of elements that lifted the CPI reading, rising by 3.2% over the annual period, while medical expenses rose by 2.3% and recreation costs rose by 1.5%. Food only rose by 0.2% while housing costs remained flat at 0.0%. The only decline in the readings was furniture and household items, which declined by a scant 0.3%.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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