Japan: CPI figures were better than expected - BBH

Analysts at BBH note that the Japan reported CPI figures and although the numbers were soft in absolute terms, they were a little better than had been expected and reinforces ideas that the worst of deflation has passed.  

Key Quotes

“Headline CPI rose 0.3% year-over-year, down from 0.5% in November and better than the 0.2% consensus.  Excluding fresh food, prices were off 0.2%.  Excluding food and energy, CPI was off 0.2% compared with -0.4% in November.  Tokyo, which reports CPI with a smaller lag, saw better than expected January readings.”