Inflation in Japan
Japan - Inflation (end of period)
Core inflation rises to two-year high in April
In April, the core consumer price index in Japan was flat from the previous month in seasonally-adjusted terms, matching the result in the previous two months. April’s reading reflected that higher prices for goods were offset by a decline in prices for semi-durable goods.
Core inflation rose from March’s 0.2% to 0.3% in April. The print undershot the 0.4% that market analysts had expected and represented the highest rate since April 2015. Overall inflation came in at 0.4% in April, above March’s 0.2%.
Core prices for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—rose 0.1% in May from the same month last year (April: -0.1% 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 0.8% and 1.9%. FocusEconomics Consensus Forecast panelists expect inflation of 0.7% in calendar year 2017, which is unchanged from last month’s estimate. In 2018, the panel sees inflation at Error! Not a valid link.%.
Japan - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||-0.2||-0.2||1.7||2.4||0.1|
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||0.06||1.82 %||Jun 16|
|Exchange Rate||110.9||-0.06 %||Jun 16|
|Stock Market||19,943||0.56 %||Jun 16|
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June 23, 2017
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) fell from May’s revised 53.1 (previously reported: 52.0) to 52.0 in June.
June 19, 2017
Nominal exports valued in yen increased 14.9% from the same month last year in May, following April’s 7.5% increase.
June 16, 2017
The Bank of Japan (BoJ) maintained its monetary policy stance at its 15–16 June meeting, voting to continue with its Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control program as long as is necessary to achieve and maintain its 2.0% inflation target.
June 12, 2017
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in April, casting doubts on the robustness of firms’ capital spending.
June 8, 2017
The Japanese economy expanded at a weaker rate than previously reported in Q1, as private consumption growth was slower than in the initial estimate and inventories recorded a sizeable drop, according to revised data released on 8 June.