Japan’s core CPI seen unchanged for third straight month in October – HSBC

Analysts at HSBC Bank offer a brief preview of the Japanese CPI report slated for release on Thursday at 2330GMT.

Key Quotes:

“The Bank of Japan’s preferred measure of core inflation, which excludes fresh food and energy product prices, we expect to be unchanged at 0.4% y-o-y for the third consecutive month in October.

This, in our view, reflects still benign growth in wages despite extremely tight labor market conditions. Meanwhile, headline inflation likely accelerated in October, led by higher energy prices reflecting global oil prices.”