Japan's inflation dream getting closer? Tokyo data surprises to the upside

FXstreet.com (Barcelona) - Japan's/ Tokyo CPI series for October and November, respectively, came quite promising, with the Tokyo figures stronger-than-expected in November, while nationwide, the numbers (still referring to Oct) were quite consistent. Overall, the latest CPI figures will encourage growing optimism among BoJ officials. The latest figures can be found below:

- National, yearly basis, for October, came at 1.1%, in line with expectations and unchanged from prior reading.
- National, yearly basis, for October, excluding Fresh Food, came at 0.9% vs 0.9% expected and 0.7% prior.
- National, yearly basis, for October, excluding Food, Energy, stood at 0.3% vs 0.2% expected and 0.0% last.
- Tokyo, yearly basis, for November, came at 0.9% vs 0.7% expected and 0.6% last.
- Tokyo, yearly basis, for November, excluding Fresh Food, saw +0.6% vs 0.4% expected and 0.3% prior.
- Tokyo, yearly basis, for November, excluding Food, Energy y/y, came at 0.2% vs -0.1% expected and -0.2% prior.

Meanwhile, overall household spending for October came at +0.9% y/y vs 1.0% exp and 3.7% prior, while Japan jobless rate for October, worsened slightly to stand at 4.0 % vs 3.9% exp and 4% last. Job-To-Applicant ratio for October came in at 0.98 vs
0.96 exp and 0.95 prior.