Japan inflation: National CPI reprints 3.3% YoY in July, USD/JPY bounces off intraday low towards 146

Market news

17 August 2023

Japan inflation: National CPI reprints 3.3% YoY in July, USD/JPY bounces off intraday low towards 146

Early Friday in Asia, Japan Statistics Bureau released National Consumer Price Index (CPI) for July, reprinting a 3.3% YoY figure versus 2.5% expected.

Further details unveil the fact that the National CPI ex Fresh Food matches 3.1% YoY forecasts, easing from 3.3% prior whereas the National CPI ex Food, Energy edges higher to 4.3% figures compared to 4.2% previous readings.

Market reaction

Despite the upbeat Japan inflation data, USD/JPY bounced off intraday low while picking up bids to 145.80 at the latest, down for the second consecutive day after refreshing the yearly top.

Also read: USD/JPY softens despite rising US yields, global economic concerns

Japan National CPI ex-Fresh Food (YoY) meets forecasts (3.1%) in July

Japan National Consumer Price Index (YoY) came in at 3.3%, above forecasts (2.5%) in July

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