April inflation data falls short of expectations, easing pressure on the Bank of Japan to adjust monetary policy.
Japan’s core Consumer Price Index rose 1.4% year-over-year in April, below the 1.7% consensus forecast. The figure marks a slowdown from March’s 1.8% print, signaling softer inflationary pressures.
National CPI, excluding fresh food, also climbed 1.4% YoY, down from 1.8% in the prior month. The broader measure excluding food and energy increased 1.9%, a decline from 2.4% in March. Analysts had anticipated a more modest deceleration.
The USD/JPY pair edged 0.03% higher to 158.97 following the release, reflecting muted market reaction to the data.