Tokyo CPI rises to 2.8% in October, yen barely moves

Tokyo’s headline Consumer Price Index rose 2.8 percent year-on-year in October, up from 2.7 percent in September, the Statistics Bureau of Japan said on Friday.

Core and ex-food gauges mixed

Prices excluding fresh food rose 2.6 percent year-on-year in October, matching the consensus expectation but down from 2.7 percent the previous month. The narrower measure, which strips out both fresh food and energy, rose 2.4 percent in October. That compares with a prior reading of 2.7 percent, which was itself revised down from an initial 3.0 percent.

Headline inflation edged higher even as the two underlying gauges slowed from the month before.

Yen little changed on the day

The Japanese yen showed little to no reaction to the release. USD/JPY stood at 157.72 as of writing, down 0.06 percent on the day.

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Source: Statistics Bureau of Japan