Japan's consumer price inflation sank to 0.1 percent yoy in April 2020 and fell to the lowest level since November of 2016, as Covid-19 pandemic continued to hamper consumption. Prices fell for transport & communication (-1.2 percent vs 0.7 percent in March), amid slumping oil prices. Meanwhile, inflation slowed for housing (0.7 percent vs 0.8 percent), medical care (0.5 percent vs 0.7 percent). In contrast, inflation went up for clothes & footwear (1.4 percent vs 1.3 percent) and food (2.1 percent vs 1.4 percent). On a monthly basis, consumer prices fell 0.2 percent after remaining unchanged in March. The annual core inflation rate, which excludes fresh food, fell to 0.2 percent after a 0.6 percent print in the previous two months and remained well below the Bank of Japan's 2% target.
Inflation Rate in Japan averaged 2.93 percent from 1958 until 2020, 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. Japan Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Ministry of Internal Affairs & Communications
Inflation Rate in Japan is expected to be -0.70 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 0.20 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 1.00 percent in 2021 and 1.20 percent in 2022, according to our econometric models.