Slower inflation likely in Japan, moderate retail sales increase in February
Standard Chartered notes its forecasts as follows: We expect slower inflation, moderate retail sales increase in February Japan will release February inflation, retail sales and jobs data on 27 March. We expect core infl…
Standard Chartered notes its forecasts as follows:
We expect slower inflation, moderate retail sales increase in February Japan will release February inflation, retail sales and jobs data on 27 March.
We expect core inflation (excluding fresh food) to have slowed to 2.1% y/y from 2.2% in January. Excluding the sales-tax effect, core inflation likely fell to 0.1% y/y, the lowest since June 2013.
The jobless rate likely remained unchanged, after having risen to 3.6% in January from 3.4% in December 2014.
The participation rate continued to decline to 59.0 in January, the lowest since March 2014, indicating that labourmarketsentiment remains conservative.
Retail sales growth likely rebounded to 0.8% m/m after a 1.9% m/m decline in January.
The increase in tourist arrivals likely boosted local retail sales, while household spending probably remained sluggish.
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