Back
27 Mar 2015
Japan CPI: Negative contribution from energy prices should shrink in February - Nomura
FXStreet (Bali) - The Economics Team at Nomura provide their forecasts for the Japanese CPI data due to be released today.
Key Quotes
"In January, the all-Japan core CPI (general index excluding fresh food) was up 2.2% y-y (up 0.2% y-y excluding the impact of the consumption tax hike), a 0.3ppt lower rise than in December 2014. Energy-related items, including gasoline and kerosene, made a large downward contribution to the core inflation rate, at -0.3ppt."
"2. Forecasts for CPI data. In January, the y-y decline in kerosene and gasoline prices widened sharply, but in February we think the declines softened, as a result of which growth in the negative contribution from energy prices was likely minimal."
"Our forecast for all-Japan core CPI inflation in February 2015, scheduled for release on 27 March, is +2.2% y-y (+0.2% excluding the impact of the consumption tax hike), unchanged from January."
Key Quotes
"In January, the all-Japan core CPI (general index excluding fresh food) was up 2.2% y-y (up 0.2% y-y excluding the impact of the consumption tax hike), a 0.3ppt lower rise than in December 2014. Energy-related items, including gasoline and kerosene, made a large downward contribution to the core inflation rate, at -0.3ppt."
"2. Forecasts for CPI data. In January, the y-y decline in kerosene and gasoline prices widened sharply, but in February we think the declines softened, as a result of which growth in the negative contribution from energy prices was likely minimal."
"Our forecast for all-Japan core CPI inflation in February 2015, scheduled for release on 27 March, is +2.2% y-y (+0.2% excluding the impact of the consumption tax hike), unchanged from January."