Japan's Core Inflation Perks Up, Keeps BOJ Rate Hike Hope Alive
Japan's Core Inflation Perks Up, Keeps BOJ Rate Hike Hope Alive
The core consumer price index (CPI), which strips away the effect of volatile fresh food prices, rose 2.6% in June from a year earlier, slightly below market forecasts for a 2.7% gain.
6月份核心消费价格指数（CPI），除去波动的生鲜食品价格影响，与去年同期相比上涨2.6％，略低于市场预期的2.7％增长。
Japan's inflation remained unchanged at +2.8%yoy in Jun-24, the highest since Feb-24. Food inflation moderated to +3.6%yoy, the lowest since Mar-22. Meanwhile, energy prices soared +7.7%yoy, the fastest pace of increase in 17 months. Excluding food prices, core inflation climbed marginally higher to +2.6%yoy (May-24: +2.5%yoy), the highest in 3 months but below market expectations of +2.7%yoy.
日本的通胀率在2024年6月保持不变，为+2.8％，是自2024年2月以来的最高水平。食品通胀率回落至+3.6％，为自2022年3月以来的最低水平。同时，能源价格飙升了+7.7％，是17个月来增长最快的。除了食品价格外，核心通胀率略微攀升至+2.6％YoY（2024年5月：+2.5％YoY），为3个月以来的最高水平，但低于市场预期的+2.7％YoY。
The core core inflation, excluding both food and energy prices, edged up to +2.2%yoy after falling to a 20-month low of +2.1%yoy in May-24. The faster core inflation, despite missing market expectations, supports the possibility for another BOJ interest rate hike this year. However, given the tepid demand-driven inflation, MIDF said it anticipates the central bank will keep the interest rate unchanged at the end of this month.
核心核心通胀率（除去食品和能源价格）从2024年5月的20个月低位+2.1％YoY上升至+2.2％YoY。尽管核心通胀率低于市场预期，但支持了今年再次进行BOJ的加息可能性。然而，鉴于需求驱动的通胀温和，MIDF称预计中央银行将在月底保持利率不变。
