Inflation in Japan

Japan Inflation | Economic News & Forecasts

Japan - Inflation

Decline in core prices softens in December

In December, the core consumer price index decreased 0.2% compared to the previous month, which followed November’s flat reading. The print mainly reflected lower prices for food, clothing and footwear.

Core prices were down 0.2% from the same month of 2015 in December, which followed November’s 0.4% drop and was a smaller drop than the 0.3% expected by market analysts. Overall inflation came in at 0.3% in December, below November’s 0.5%.

Core prices for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—fell 0.3% in January from the same month last year (December: -0.6% year-on-year).

The Bank of Japan (BoJ) expects that core inflation will be between 0.6% and 1.6% in the fiscal year ending March 2018. In the following fiscal year, the BoJ sees inflation between 0.9% and 1.9%. FocusEconomics Consensus Forecast panelists expect inflation of 0.5% in calendar year 2017, which is unchanged from last month’s estimate. In 2018, the panel sees inflation at 0.9%.

Japan - Inflation Data

2011  2012  2013  2014  2015  
Inflation Rate (CPI, annual variation in %)-0.3  0.0  0.4  2.8  0.8  

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Japan Inflation Chart


Japan Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Bureau of Japan and FocusEconomics calculations.

Japan Facts

ValueChangeDate
Bond Yield0.104.40 %Feb 16
Exchange Rate113.2-0.81 %Feb 16
Stock Market19,348-0.47 %Feb 16

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