Change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food;
Usual Effect
'Actual' greater than 'Forecast' is good for currency;
Frequency
Released monthly, usually on the last Friday of the current month;
Next Release
FF Notes
Tokyo is Japan's most populated city and releases CPI data a month ahead of National CPI. This early data is thought to be the most important consumer inflation release. The impact tends to be mild but varies from month to month;
Why Traders Care
Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to tighten monetary policy out of respect for their inflation containment mandate;
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Derived Via
Survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, climate for major purchases, and overall economic situation;
Percentage that consumers expect the price of goods and services to change during the next 12 months;
Usual Effect
'Actual' greater than 'Forecast' is good for currency;
Frequency
Released monthly, usually on the last Friday of the current month;
Next Release
FF Notes
The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 2 versions of this data released about 15 days apart – Preliminary and Revised. The Preliminary release is the earliest and thus tends to have more impact;
Why Traders Care
Expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise;
Derived Via
Survey of about 500 consumers which asks respondents where they expect prices to be 12 months in the future;
