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Japanese core inflation rises to highest level in five years

  • Japanese CPI +0.9% on year in August vs +0.7% in July and consensus of +0.8%.
  • Core CPI, excluding fresh food, rose to its highest level since November 2008, increasing to +0.8% vs +0.7 and +0.7%. The gain also represented third straight month of growth.
  • However, most of the increase was due to rising gasoline prices and the weaker yen.
  • Core-core CPI, which excludes energy as well, -0.1% vs -0.1% and -0.1%.
  • The prices of consumer-electronic equipment and other durable leisure goods rose 0.1%, the first increase since 1992.
  • For inflation to take hold, wages need to start rising, economists say. PM Shinzo Abe "will have to keep up his campaign on companies for wage growth," says Taro Saito.
  • Japan 225 -0.4%; USD-JPY -0.4% to ¥98.65. (PR)
  • ETFs - Stocks: EWJ, NKY, EWV, EZJ, ITF, JSC, JPP, DXJ, SCJ, DFJ, FJP, JPNL, JPNS, DXJS. Bonds: JGBT, JGBL, JGBS, JGBD. Currency: FXY, JYN, YCL, YCS
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