Tokyo May 2025 headline CPI +3.4% y/y (3.4% expected)

Tokyo CPI +3.4% y/y

expected 3.4%, prior +3.5%

CPI excluding fresh food 3.6% y/y, the highest since January 2023

expected 3.5%, prior 3.4%

CPY excluding fresh food & energy +3.3% y/y, the highest since January 2024

expected 3.2%, prior 3.1%

Both of the core measures are higher than expected and higher than the previous month.

Yen is getting a small bid on the solid inflation data.

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