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Japan's core inflation eased to 3.1% in July from 3.3% in June, above the 3% expected, as rice inflation slowed to 90.7% from 100.2%. Supermarket rice averaged 3,737 yen per five-kilogram bag in early August, below the earlier peak of 4,285 yen.
Core-core inflation held at 3.4%.
Easing domestic rice prices reduce the urgency for Japanese buyers to secure imports, but Japanese food inflation remains elevated.
After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.