Japan's consumer prices declined by 0.2 percent year-on-year in March 2021, after a 0.4 percent drop in the previous month. This was the sixth straight month of decrease in consumer prices but the least in the sequence, as the COVID-19 pandemic weighs on household spending. Cost continued to fall for transportation & communication (-0.4% vs -1.3%), fuel, light and water charges (-4.8% vs -5.8%), medical care (-0.4% vs -0.4%), and education (-2.2% vs -2.1%). Also, food prices fell by 0.2%, after being flat in February. In contrast, cost went up for housing (0.6% vs 0.6%), furniture and household utensils (2.9% vs 2.6%), recreation (0.4% vs -0.2%), and miscellaneous (1.4% vs 1.5%). Core consumer prices, which exclude fresh food, dropped 0.1 percent year-on-year, the eighth straight month of fall, after a 0.4 percent decline in February and matching consensus. On a monthly basis, prices rose by 0.2 percent, the third consecutive month of rise, after a 0.1 percent gain in February. source: Ministry of Internal Affairs & Communications
Inflation Rate in Japan averaged 2.89 percent from 1958 until 2021, 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 2021.
Inflation Rate in Japan is expected to be 0.00 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 0.50 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 0.70 percent in 2022 and 1.40 percent in 2023, according to our econometric models.