Tokyo October CPI Rises to 2.8%, Above 2.7% Forecast

The year-on-year CPI data for Tokyo for October are as follows:

• The headline CPI came in at 2.8%, up from 2.7% and above the 2.7% forecast.
• The core CPI, excluding fresh food, was 2.6%, matching expectations but down from 2.7% previously.
• The measure excluding fresh food and energy was 2.4%, below the 2.7% expected and the prior month's 2.7%.

September labour market data were also published:

• The unemployment rate stood at 2.4%, lower than the 2.5% forecast and the previous month's 2.5%.
• The jobs-to-applicants ratio rose to 1.19 from 1.18, above the 1.18 estimate.

Only the raw data is presented here; more in-depth analysis will follow separately.

Background on the data is available in the preview below:

• Tokyo CPI preview sees core inflation at 2.6%, with the BoJ considering a December rate hike.

An upcoming BoJ preview is also expected:

• BoJ preview expects rates held at 1.25%, with a 2% inflation call and dissent risk emphasis.