Tokyo headline CPI for December 2.4% y/y (prior 2.6%) ...Middle East

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Tokyo headline CPI for December 2.4% y/y (prior 2.6%)
Falling rates of inflation in the Tokyo area will likely translate to national CPI figures due in around 3 weeks. The underlying rate of inflation, the core-core (ex food and energy), which is closest to the US measure of core inflation, remains well above the Bank of Japan 2% target and argues for a reduction in accommodative policy. USD/JPY is barely changed on the data circa 144.20.****Tokyo area inflation data:National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.Tokyo CPI is a sub-index of the national CPIIt measures the change in prices of goods and services in the Tokyo metropolitan areaIts considered a leading

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