Inflation in Japan
Japan - Inflation (end of period)
Decline in core prices steady in November
The core consumer price index was entirely flat in November compared to the previous month, below October’s 0.2% rise. November’s reading mainly reflected that higher prices for clothes and footwear, furniture and household utensils, and fuel, light and water were offset by lower costs for medical care and culture and recreation.
Core prices were down 0.4% from the same month last year in November, matching the result in October and slightly below the 0.3% drop that market analysts had expected. Overall inflation rose to 0.5% in November from 0.1% a month earlier and marked the highest print since May 2015.
Core prices for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—fell 0.6% in December from the same month last year (November: -0.4% year-on-year).
The Bank of Japan (BoJ) expects core inflation to be between 0.6% and 1.6% in the fiscal year ending March 2018. In the following fiscal year, the BoJ foresees inflation of between 0.9% and 1.9%. FocusEconomics Consensus Forecast panelists expect consumer prices to rise 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 (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||-0.2||-0.1||1.6||2.4||0.2|
5 years of economic forecasts for more than 30 economic indicators.
Japan Inflation (eop) Chart
Source: Statistics Bureau of Japan and FocusEconomics calculations.
|Bond Yield||0.07||-12.00 %||Jan 20|
|Exchange Rate||114.6||-0.21 %||Jan 20|
|Stock Market||19,138||0.34 %||Jan 20|
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January 16, 2017
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) in Japan fell in November after briefly recovering in the previous month.
January 10, 2017
Japanese consumer sentiment rose from November’s 40.9 to 43.1 in December, which marked the highest print since September 2013.
December 28, 2016
Industrial production in Japan expanded 1.5% in November compared to the previous month in seasonally-adjusted terms, above October’s revised 0.0% reading (previously reported: +0.1% month-on-month).
December 27, 2016
The core consumer price index was entirely flat in November compared to the previous month, below October’s 0.2% rise.
December 19, 2016
In November, nominal Japanese exports valued in yen fell 0.4% from the same month last year, which followed October’s 10.3% decline.