The September National CPI has closing onto 3% again at 2.9% y/y. Ex fresh food is also 2.9% and ex fresh food & energy at 3% y/y. Both the headline and ex fresh food flared up while ex fresh food & energy moderates. The inflationary pressure remains supportive for the BoJ to hike, yet it seems difficult for them to act immediately on the new PM's policy tilt.