Economic calendar in Asia 30 June 2023: Japanese inflation data & also China PMIs (June)

economic inflation

Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or a country increases over a period of time. It is the rise in the general price level where you actually buy a particular currency less than it was in previous periods. In terms of evaluating strength or currencies, and therefore foreign currencies, inflation or its measures are very impressive. Inflation stems from the general creation of money. This money m

Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or a country increases over a period of time. It is the rise in the general price level where you actually buy a particular currency less than it was in previous periods. In terms of evaluating strength or currencies, and therefore foreign currencies, inflation or its measures are very influential. Inflation stems from the general creation of money. This money m
Read this term An indicator from Japan, inflation as measured in the Tokyo area. This is a leading indicator of inflation nationwide but it is not a perfect indicator for one.

Previous indicators from this data point, for the month of May, all three measures stayed above 3%. The index that excludes food and energy, known as the core and closest to a measure of core inflation in the US, rose from April to a 40-year high. Underlying price pressures remain a concern although the Bank of Japan continues to insist that its forecasts show that inflation is temporary.

Later in the session, we will have the official PMIs, those released by the Chinese National Bureau of Statistics (NBS), for June. Next week we will get your surveyed PMIs. That is, China has two preliminary PMI surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by Caixin media and research firm Markit / S&P Global.

• The official PMI survey covers large and state-owned enterprises, while the Caixin PMI survey covers more small and medium-sized enterprises. As a result, the Caixin PMI is a more reliable indicator of private sector performance in China.
• Another difference between the two surveys is their methodology. The Caixin PMI survey uses a wider sample of companies than the official survey. Despite these differences, the two surveys often provide similar readings for China’s manufacturing sector.

For today, the June Manufacturing PMI is expected to improve but contract for the third month in a row. We had monetary policy stimulus measures announced by the People’s Bank of China a couple of weeks ago, but the markets were disappointed by the lack of significant new fiscal support announced. I’m still waiting.