Forex - Japan Preview: due 22 June- May inflation likely to stabilize at 0.6% y/y


 02:39 (GMT) 15 Jun

  [Economic Data]

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Japan Preview: due 22 June- May inflation likely to stabilize at 0.6% y/y (0101-BJWV-C01)

Based on Tokyo CPI data for May, we expect Japan's nationwide CPI to stabilize somewhat at 0.6% y/y in May after easing for two consecutive months, while core inflation (excluding fresh food) is seen at 0.7% y/y. While housing inflation continues to be a key drag, food inflation is likely to ease due to base effects. We believe household goods prices are also likely to be on the weaker side. We have lowered our 2018 inflation forecast to 0.9% from 1.1% previously. Core inflation is also likely to remain muted at 1.1% y/y this year.


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