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USD/JPY slips below 158 after Tokyo core inflation beats forecast

Tokyo core inflation rose to 2.7% in September, and Tokyo headline inflation also matched 2.7%, while Japan’s unemployment rate edged up to 2.5%.

Reported · Written up by our desk · Major Pairs

Tokyo’s core inflation rate rose to 2.7% in September, beating a 2.4% forecast, according to FXStreet. The report also showed Tokyo headline inflation at 2.7%, up from 1.9%.

Despite the upside inflation surprise, USD/JPY slipped back below 158.00 on the release and remained up on the week, FXStreet said. The publication also noted that speculation had turned toward buying yen in record size ahead of the Bank of Japan’s rate increase on September 18.

In Tokyo, core inflation excluding fresh food accelerated from 1.8% in August, its fastest reading since November 2025, FXStreet reported. It also said stripping out energy and food left inflation at 3.0%, up from 2.0%.

FXStreet added that the inflation release came alongside Japan’s August unemployment rate, which rose to 2.5% versus a 2.4% forecast, and cited that national core inflation was 1.7% in August, below the BoJ’s 2% target for a ninth straight month. It also said September national figures are due October 22 before the BoJ’s next decision at the end of the month.

Latest closeUSD/JPY 157.40 ▲0.0%

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