Japan Inflation April 2021


Japan: Consumer prices fall again in April

May 21, 2021

Core consumer prices dropped 0.49% from the previous month in April, contrasting the 0.20% increase seen in March.

Core consumer prices—which exclude fresh food—declined 0.1% in annual terms in April, matching March’s decline and the ninth consecutive month of falling prices. Meanwhile, the trend was unchanged, with the annual average variation of core consumer prices coming in at March's minus 0.4% in April. Lastly, consumer prices for all items fell 0.4% on an annual basis in April, which was a larger fall compared to March's 0.2% decrease.

FocusEconomics panelists expect overall consumer prices to increase 0.1% in 2021, which is unchanged from last month’s estimate. In 2022, the panel sees prices rising 0.6%.


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Japan Inflation Chart

Japan Inflation April 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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