Japanese data dump, headline CPI: 1.1% vs 1.2% expected

• We are closing down the month on May with Japanese end of month data points. 
• Tokyo May CPI headline arrived 1.1% vs 1.2% expected for the year.

The Japanese data dump arrived with Tokyo headline CPI underperforming arriving at 1.1% year on year (y/y) vs 1.2% expected and vs the prior 1.3%.

• Tokyo CPI excluding Fresh Food 1.1% y/y expected 1.2%, prior was 1.3%.
• Tokyo CPI excluding Food, Energy 0.8% y/y expected 1.0%, prior was 0.9%.
• Industrial Production: 1.1% vs -1.7% expected and vs -4.3% prior for the year. 
• Retail sales: 0.5% vs 0.8% expected vs 1.0% prior. 
• Unemployment rate 2.4% vs 2.4% expected for April. 

About the Tokyo Consumer Price Index

The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services, excluding fresh food. The index captures inflation in Tokyo. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive for the JPY.