Japan’s Mixed Data Ahead of Tax Hike

Japan on Friday released a mixed bag of economic data, which have been closely-watched ahead of the country’s first sales tax hike in 17 years that goes into effect next week.

The nationwide core consumer price index rose for a ninth straight month in February, up 1.3 percent from the year-ago period, in line with forecast by analysts polled by Reuters.
Meanwhile, the forward-looking Tokyo core consumer price index climbed 1 percent in March from the year before, slightly higher than a Reuters forecast for a 0.9 percent rise.

Household spending fell 2.5 percent in February year on year, short of the Reuters forecast for a 0.1 percent increase.

Retail spending surprised on the upside though, gaining 3.6 percent in February on year, better than expectations of a 3.2 percent rise.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza