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.