Tokyo Inflation Slows; Hedge Fund Loses on Canadian Housing Bet

Consumer spending in Japan decreases as cost of living rises, while a Canadian hedge fund suffers losses betting against the housing market.

Consumer price gains in Tokyo slowed for a second month in December, indicating that cost-push inflation may be easing.
Japan's households cut their spending in November by 2.9% from the previous year, as rising costs of living prompted shoppers to become more selective about what to buy.
Price gains of processed food in Tokyo slowed to 6% in December from 6.4% a month earlier, while utility prices continued to sharply fall from the previous year as gas prices in the capital sank 22%.
Bank of Japan officials will parse the figures ahead of a board meeting that concludes on Jan. 23, where in addition to setting policy they’ll release updated outlooks for prices and growth.
A small hedge fund betting on a Canadian housing market crisis had a double-digit loss last year as property prices held up and bank shares rebounded on optimism about a soft landing for the economy.