Clock Ticking for BOJ’s Kuroda as Inflation Stalls

Consumer prices in Japan were unchanged from a year earlier in July, underscoring the struggle the Bank of Japan (BOJ) faces in achieving its 2 percent inflation target and building the case for additional monetary stimulus.

The core consumer price index (CPI), which excludes volatile prices of fresh food but includes prices of oil products, was flat in July from the year-ago period, government data showed on Friday, compared with Reuters’ forecast for a drop of 0.2 percent and down from a 0.1 percent rise in June.

The core Tokyo CPI for August, considered a leading indicator, dipped 0.1 percent on year, unchanged from the previous month and a touch better than predictions for a 0.2 percent fall.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.