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Core inflation in Japan likely to at 1.0-1.5% - Nomura

FXStreet (Bali) - According to Nomura Economists, core inflation in Japan is likely to remain at 1.0-1.5%, noting the likely impact of another increase in electricity charges as a result of delay in restart of nuclear power plants.

Key Quotes

Our forecast for July all-Japan core CPI (scheduled announcement at 8:30am on Friday, 29 August): +3.3% y-y (June: +3.3% y-y) Our forecast for July all-Japan core consumer price index (CPI) inflation (CPI for all items excluding fresh food) is 3.3% y-y, or 1.3% after stripping out the impact of the consumption tax hike, unchanged from the June reading."

"Our forecast for August Tokyo core CPI: 2.7% y-y (July: 2.8% y-y) Our forecast for August Tokyo core CPI inflation is 2.7%, or 0.8% after stripping out the impact of the consumption tax hike, both down 0.1ppt from July."

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