Japan Inflation December 2019


Japan: Core inflation accelerates in December

January 24, 2020

The core consumer price index increased 0.1% in month-on-month seasonally-adjusted terms in December, following November’s 0.2% rise. The increase in December was mainly due to higher prices for transportation and communication.

Core inflation accelerated to 0.7% in December from 0.5% in November, as expected by market analysts but still well below the Bank of Japan’s inflation target of 2.0%. Meanwhile, overall inflation accelerated to 0.8% in December from 0.5% in November.

FocusEconomics Consensus Forecast panelists expect inflation of 0.8% in 2020, which is down 0.2 percentage points from last month’s estimate. In 2021, the panel sees inflation at 0.8%.

Author:, Economist

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Japan Inflation Chart

Japan Inflation December 2019

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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