FXStreet (Bali) - Japanese inflation remains depressed, as shown in today's boat-load of CPI data, making the case for further easing more compelling, should the Bank of Japan remain credible and committed to its 2% mandate. Today's data shows national CPI y/y for December at 0.2% vs expected 0.2% and prior 0.3%, national CPI y/y excluding Fresh Food for December stood at 0.1% vs expected 0.1% and prior 0.1%, while national CPI excluding Food, Energy y/y for December came at 0.8% vs expected 0.9% and prior 0.9%. As per Tokyo CPIs, the y/y for January came at -0.3% vs expected 0.0% and prior 0.1%, Tokyo CPI excluding Fresh Food y/y for January stood at -0.1% vs expected 0.1% and prior 0.1%, while Tokyo CPI excluding Food, Energy y/y for January was 0.4%, expected 0.6% and prior 0.6%. If the data was not bad enough, overall household spending y/y for December came at -4.4% vs expected -2.5% and prior -2.9%, making it even more difficult to get to the 2% inflation objective as consumer remain cautious on their spending, resulting in an ability to push up price pressures. For more information, read our latest forex news.