Japan's consumer price inflation rose to 0.8 percent year-on-year in December 2019 from 0.5 percent in the previous month, above market consensus of 0.4 percent. This was the highest rate since April, as food prices rose the most in 14 months (1.9 percent vs 1.5 percent in November) and housing inflation stood at the highest level for over two decades (at 0.8 percent). In addition, transport cost increased for the first time in 13 months (0.8 percent vs -0.5 percent) and culture & recreation inflation hit a near five-year high (2.8 percent vs 2.3 percent). Meantime, annual core consumer inflation, which excludes fresh food, rose to 0.7 percent in December, the highest since May, but below the Bank of Japan's 2 percent target. The so-called core-core inflation index, which excludes fresh food and energy prices, grew 0.9 percent, the fastest pace since March 2016. Considering 2019 full year, inflation rate averaged 0.5 percent, down from 1 percent in 2018.

Inflation Rate in Japan averaged 2.95 percent from 1958 until 2019, reaching an all time high of 24.90 percent in February of 1974 and a record low of -2.50 percent in October of 2009. This page provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Japan to stand at 1.50 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.


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Japan Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.50 24.90 -2.50 1958 - 2019 percent Monthly
2015=100

Calendar GMT Actual Previous Consensus TEForecast
2019-10-17 11:30 PM Sep 0.2% 0.3% 0.4% 0.4%
2019-11-21 11:30 PM Oct 0.2% 0.2% 0.3% 0.4%
2019-12-19 11:30 PM Nov 0.5% 0.2% 0.2% 0.3%
2020-01-23 11:30 PM Dec 0.8% 0.5% 0.4% 0.5%
2020-02-20 11:30 PM Jan 0.8% 0.7%


News Stream
2019-12-19
Japan Inflation Rate Climbs to 0.5% in November
Japan's consumer price inflation rose to 0.5 percent year-on-year in November 2019 from 0.2 percent in the previous month and above market consensus of 0.2 percent. This was the highest rate in four months, as food and housing prices rose increased faster while transport deflation eased. On a monthly basis, consumer prices rose 0.2 percent.

2019-11-21
Japan Inflation Rate Stays at 7-Month Low in October
Japan's consumer price inflation stood at 0.2 percent year-on-year in October of 2019, unchanged from September and below market expectations of 0.3 percent. It remained the lowest inflation rate since February despite a sales tax hike during the month, with fuel prices falling for the first time in 31 months and cost of transport declining for the eleventh straight month. On a seasonally adjusted basis, consumer prices were flat for the third straight month.

2019-10-17
Japan Inflation Falls to 7-Month Low
Japan's consumer price inflation fell to 0.2 percent year-on-year in September 2019 from 0.3 percent in the previous month and well below market expectations of 0.4 percent. It was the lowest inflation rate in seven months, mainly pushed down by lower gasoline prices. The latest reading raises the chances of further stimulus after the Bank of Japan decided to leave policy unchanged during its September meeting but left the window wide open for easing, calling for a review of prices and the economy in October. Annual core consumer inflation, which excludes fresh food, was at 0.3 percent in August, the lowest since April 2017.

2019-09-20
Japan Inflation Rate Falls to 6-Month Low
Japan's consumer price inflation fell to 0.3 percent year-on-year in August 2019 from 0.5 percent in the previous month and well below market expectations of 0.6 percent. It was the lowest inflation rate in six months, raising the chances of further stimulus after the Bank of Japan decided to leave policy unchanged during its September meeting but left the window wide open for easing, calling for a review of prices and the economy in October. Annual core consumer inflation, which excludes fresh food, was at 0.5 percent in August, the lowest in over two years.

2019-08-22
Japan Inflation Rate Slows to 4-Month Low in July
Japan's consumer price inflation fell to 0.5 percent year-on-year in July 2019 from 0.7 percent in the previous month and in line with market expectations. It was the lowest inflation rate since March, amid a slowdown in food prices and a fall for the eighth consecutive month in cost of transport and communication. On a seasonally adjusted monthly basis, consumer prices rose by 0.1 percent in July, following a flat reading in the previous two months.

2019-07-18
Japan Inflation Rate Unchanged at 0.7% in June
Japan's consumer price inflation came in at 0.7 percent year-on-year in June 2019, unchanged from the previous month and matching market expectations. A faster rise in cost of food and housing was offset by a steeper decline in prices of transport and communication. The annual core consumer inflation, which excludes fresh food, fell to 0.6 percent, the lowest since July 2017, from 0.8 percent in May. On a seasonally adjusted monthly basis, consumer prices were flat for the second consecutive month.


Japan Inflation Rate
In Japan, the most important categories in the consumer price index are Food (25 percent of total weight) and Housing (21 percent). Transportation and communications accounts for 14 percent; Culture and recreation for 11.5 percent; Fuel, light and water charges for 7 percent; Medical care for 4.3 percent; Clothes and footwear for 4 percent. Furniture and household utensils, Education and Miscellaneous goods and services account for the remaining.

Japan Prices Last Previous Highest Lowest Unit
Inflation Rate 0.80 0.50 24.90 -2.50 percent [+]
Inflation Rate Mom 0.10 0.20 4.10 -1.10 percent [+]
Consumer Price Index CPI 102.30 102.30 102.30 17.40 points [+]
Core Consumer Prices 102.20 102.20 102.20 31.00 points [+]
Core Inflation Rate 0.70 0.50 24.70 -2.40 percent [+]
GDP Deflator 101.70 104.70 120.00 87.80 points [+]
Producer Prices 102.30 102.20 112.50 47.40 points [+]
Export Prices 92.30 92.10 207.30 84.10 points [+]
Import Prices 93.30 92.60 190.40 45.90 points [+]
Food Inflation 1.90 1.50 31.60 -3.70 percent [+]
Producer Prices Change 0.90 0.10 33.90 -8.60 percent [+]
Tokyo Cpi 102.10 102.20 104.30 31.30 points [+]
CPI Housing Utilities 100.40 100.30 102.20 25.50 points [+]
CPI Transportation 99.90 99.50 104.40 38.50 points [+]