Japan Inflation November 2020


Japan: Core consumer prices post biggest drop since September 2010 in November

December 18, 2020

Core consumer prices fell 0.10% over the previous month in November, a smaller decrease than the 0.30% fall logged in October.

Core consumer prices—which exclude fresh food—fell 0.9% year-on-year in November, a steeper drop that October’s 0.7% decrease. November's figure represented the largest fall in prices since September 2010. The annual average variation of core consumer prices fell to minus 1.0% in November (October: -0.7%). Lastly, consumer prices for all items fell 0.9% on an annual basis in November, which was a sharper fall compared to October's 0.4% decrease.

FocusEconomics panelists expect overall consumer prices to drop 0.2% 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 November 20 20

Note: Year-on-year and seasonally adjusted month-on-month var. of consumer price index in %.
Source: Statistics Bureau (SB) and FocusEconomics calculations.

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