Japan's consumer prices declined 1.2 percent year-on-year in December of 2020, after falling 0.9 percent in the previous month, as the pandemic continued to drag consumption heavily. The decline was bigger than expected and was the sharpest since April of 2010. Prices were mainly dragged by utilities (-6.1 percent vs -5.4 percent in November), food (-0.8 percent vs -0,2 percent), education (unchanged at -2.2 percent), transportation & communication (-1.3 percent vs -1.1 percent), and culture & recreation (-4.0 percent vs -3.8 percent). Meanwhile, prices for medical care fell again by a softer 0.4 percent compared to -0.5 percent. On a monthly basis, consumer prices dropped 0.3 percent after declining 0.5 percent. Core consumer prices, which exclude fresh food, dropped 1.0 percent on the year. source: Ministry of Internal Affairs & Communications
Inflation Rate in Japan averaged 2.90 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 February of 2021.
Inflation Rate in Japan is expected to be 0.20 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 0.30 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 0.70 percent in 2022, according to our econometric models.