Japanese inflation shows slight improvement, far from BOJ's 2% target

Japanese inflation numbers for December (nation-wide) and January (Tokyo) fell at a slower pace, despite still being far from BOJ's desired 2% outcome. A pick up in global demand, which has helped Japanese exporters, coupled with higher domestic demand, mainly fueled by rising stocks, are factors contributing to the slight pick up in the readings. The data should have no immediate impact on BOJ policies. 

Headlines

Japan Tokyo CPI ex Food, Energy (YoY) increased to 0% in January from previous -0.2%

Japan National CPI Ex Food, Energy (YoY) down to 0% in December from previous 0.1%

Japan Tokyo CPI ex Fresh Food (YoY) came in at -0.3%, above forecasts (-0.4%) in January

Japan National CPI Ex-Fresh Food (YoY) came in at -0.2%, above forecasts (-0.3%) in December

Japan National Consumer Price Index (YoY) fell from previous 0.5% to 0.3% in December