Japan Inflation August 2021


Japan: Core inflation flatlines in August

September 24, 2021

Core consumer prices—which exclude fresh food—dropped 0.10% from the previous month in August, swinging from the 0.40% rise recorded in July. August's result marked the weakest reading since April.

Core consumer prices were flat on an annual basis in August, following July’s 0.2% year-on-year decrease. August's flat reading ended a run of 12 months to falling prices. Meanwhile, the trend was unchanged, with the annual average variation of core consumer prices coming in at July's minus 0.6% in August. Lastly, consumer prices for all items fell 0.4% on an annual basis in August, which was a sharper decrease compared to July's 0.3% decrease.

FocusEconomics panelists expect overall consumer prices to increase 0.0% in 2021, which is down 0.1 percentage points from last month’s estimate. In 2022, the panel sees prices rising 0.5%.


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Japan Inflation Chart

Japan Inflation August 2021

Note: Year-on-year and seasonally adjusted month-on-month variation of consumer price index in %.
Source: Statistics Bureau (SB) and FocusEconomics calculations.

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