Japan Services Producer Price Index (PPI) is due today. It measures the average change over time in the prices received by service providers (in the private sector) for their services in Japan:
Data published by the Bank of Japancovers services such as transportation and communication, finance and insurance, wholesale and retail trade, and others
The PPI level has been around and above 3% y/y, most recently 4%. CPI has been showing elevated also:
Japan April CPI remains well above the Bank of Japan target rate
And yet, Bank of Japan Governor Ueda is not yet happy that inflation is sustainably and stably at the Bank’s 2% target:
Underlying inflation still below 2%
Let’s see what the data today tells us. Expectations are for 3.5%, if that feeds through to CPI Ueda will be a little happier about target.
This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
This article was written by Eamonn Sheridan at www.forexlive.com.