Nationwide CPI For May

Japan's nationwide CPI showed headline inflation rise to +1.5% in May, while core gauges remained largely stable. Analysts expect inflation to reaccelerate later this year as upstream cost pressures overcome temporary energy subsidy impacts.

Key Takeaways

• 1.Japan's nationwide headline CPI inched up to +1.5% YoY in May, while core inflation remained steady at +1.4%.
• 2.The BOJ's preferred core-core measure slowed to +1.8%, though reacceleration is expected later in the year due to upstream cost pass-through.
• 3.The pause in government subsidies for household electricity and gas bills provided a temporary boost to inflation readings.

Table of Contents

• Nationwide CPI for May: Inflation little changed from April, but set to accelerate even as oil prices fall
• Goods and services
• Outlook
• Important Disclosure Information
• Analyst Certification
• Disclaimer

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