Published: 2025-08-22T00:53:53.000Z
USD/JPY flows: Headline CPI Moderates, Core Doesn't
FX Analyst
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National headline CPI 3.1% y/y, so as core but core-core 3.4%
The July Japan national CPI is showing a headline moderation of 3.1% from 3.3% y/y with ex fresh food CPI also moderated to 3.1%. However, ex fresh food & energy remains stubborn at 3.4%, stating solid underlying inflation. It continues to support the BoJ to hike.
USD/JPY is trading 0.04% higher at 148.43.