Japanese core inflation inches higher in May, beating expectations

Atsushi Tomura/Getty Images for MORINAGA

Japanese inflation data for May has beaten market expectations.

Core inflation, that which excludes fresh food prices, rose by 0.1% in the year to May, beating expectations for no change overall. Core inflation had risen by 0.3% in the year to April.

In what is often a harbinger for national price developments in the month ahead, core Tokyo inflation for June fell to 0.1% from 0.2%. While a decline from April, the reading was in line with expectations.

In absolute terms, national inflation increased by 0.5%, down slightly on the 0.6% level of April.

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