Mount Fuji, Japan

Japan Inflation May 2020

Japan: Core consumer prices decrease in April for the first time in over four years

The core consumer price index, which excludes the price of fresh food, decreased 0.5% month-on-month in seasonally-adjusted terms in April, down from the 0.1% decrease in March. This latest decline was largely due to lower prices for transportation and energy.

The core consumer price index decreased 0.2% in April compared to the same month last year, contrasting the 0.4% increase in March and marking the first negative reading in over four years. The change was also substantially below the Bank of Japan’s target of a 2.0% increase. Overall inflation slowed to 0.1% in April (March: +0.4%).

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