Japan CPI core (all item ex-fresh food) was unchanged at 2.1% yoy in May, matched expectations. That’s the second month that core consumer inflation tops BoJ’s 2% target. All item CPI was unchanged at 2.5% yoy, below expectation of 2.9% yoy. CPI core-core (all item ex-food, energy) was unchanged at 0.8% yoy, above expectation of 0.4% yoy.
But Deputy Chief Cabinet Secretary Seiji Kihara warned in the press conference, “we think it is necessary to pay close attention to the downside risks of the economy such as pushing down private consumption and corporate activities.”
