Japan July CPI Rises 3.1%, Ex-Fresh Food 3.1%, Ex-Energy 3.4%; Services PPI Up 2.9%; Sweden Unemployment 8.9%

Japan's consumer price index (CPI) for July 2025 rose by 3.1% year-on-year, matching market expectations and down from 3.3% in June, according to the Ministry of Internal Affairs and Communications. The CPI excluding fresh food increased by 3.1%, slightly above the 3.0% estimate but lower than June's 3.3%. The CPI excluding both fresh food and energy rose by 3.4%, consistent with forecasts and unchanged from the previous month. Meanwhile, Japan's services producer price index (PPI) for July increased 2.9% year-on-year, below the estimated 3.2% and the prior 3.2%. Economic indicators showed a slight decline in Japan's leading index to 105.6 from 106.1 and a marginal decrease in the coincident index to 116.7 from 116.8 in June. In other regional data, Sweden's unemployment rate seasonally adjusted rose to 8.9% in July, exceeding the 8.6% forecast and the previous 8.3%. Sweden's producer price index increased 1.1% month-on-month in July, rebounding from a 0.6% decline, while the year-on-year PPI declined by 0.6%, an improvement from a 3.1% drop previously. New Zealand's retail sales excluding inflation unexpectedly grew by 0.5% quarter-on-quarter in the second quarter, surpassing the -0.3% estimate and indicating early signs of economic recovery amid lower interest rates. South Korea's consumer confidence index rose to 111.4 in August, the highest since January 2018, supported by strong stock prices and resilient exports despite uncertainties related to US tariffs. Spain's producer price index rose 0.8% month-on-month in July but slowed to 0.3% year-on-year, down from 0.8% the previous month. South Africa's leading indicator for June increased slightly to 111.7 from 111.3.