Japan's November core CPI seen steady – RTRS Poll

The results of the latest Reuters poll of 19 economists showed that a majority of the respondents believe that the Japanese consumer prices are expected to rise fractionally for an 11th straight month in November.

Key Findings:

“The nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, likely rose 0.8 percent in November from a year ago, unchanged from October’s reading.

Core consumer prices in Tokyo, available a month before the nationwide data, were projected to be up 0.7 percent in December from a year earlier versus a 0.6 percent annual increase in November.

The poll also found industrial output was likely to have grown 0.5 percent in November from the previous month, up for a second straight month.

The poll saw the jobless rate steady at a 23-year low of 2.8 percent in November and the jobs-to-applicants ratio at 1.56, which would be the highest level since January 1974.

Household spending is forecast to have risen an annual 0.5 percent in November and retail sales were seen likely to grow 1.2 percent on the year.”

The Japanese macro releases are due on the cards next week.