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    Japan Inflation: Tokyo Consumer Price Index climbs 2.6% YoY in February vs. 1.6% prior

    Source Fxstreet
    Mar 4, 2024 23:35

    The headline Tokyo Consumer Price Index (CPI) for February rose 2.6% YoY from 1.6% in the previous reading, the Statistics Bureau of Japan showed on Tuesday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy eased to 3.1% YoY from 3.3% in January.

    Additionally, Tokyo CPI ex Fresh Food climbed to 2.5% for the said month, in line with the market expectation.

    Market reaction

    As of writing, the USD/JPY pair was down 0.06% on the day at 150.43.

    About Tokyo Consumer Price Index (CPI)

    The Tokyo Consumer Price Index is released by the Statistics Bureau and it's a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services. The index captures inflation in Tokyo. CPI is the most significant way to measure changes in purchasing trends. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive.

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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