Japan Inflation

Japan

Japan: Core inflation continues to ease in September

October 31, 2014

In September, the core consumer price index, which excludes volatile fresh food prices, was flat over the previous month. The print, which matched the result observed in August, mainly reflected that lower prices for culture and recreation, transportation, and fuel, light and water charges were offset by higher prices in most of the remaining sub-categories.

Annual core inflation inched down from the previous month’s 3.1% to 3.0% in September. The print was in line with market expectations and represented the lowest rate since March. Overall inflation ticked down from 3.3% in August to 3.2% in September.

Core inflation for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—inched down from 2.6% in September to 2.5% in October, which matched the result that market analysts had expected.

The Bank of Japan (BoJ) expects that core inflation will be between 3.1% and 3.4% in the fiscal year ending March 2015. In the following fiscal year, the BoJ sees inflation falling to somewhere between 1.8% and 2.6%. FocusEconomics Consensus Forecast panelists expect inflation of 2.8% in the calendar year 2014, which is up 0.1 percentage points from last month’s estimate. In 2015, the panel sees inflation at 1.8%, which is unchanged from last month’s projection.


Author: Ricard Torné, Lead Economist

Sample Report

Looking for forecasts related to Inflation in Japan? Download a sample report now.

Download

Japan Inflation Chart


Japan Inflation September 2014

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


Japan Economic News

  • Japan: Core inflation inches up in June

    July 20, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in June, up from May’s flat reading. Core inflation was up a notch to 0.8% in June from 0.7% in May, which was in line with market expectations.

    Read more

  • Japan: Export growth slows in June

    July 19, 2018

    Nominal yen-denominated merchandise exports increased 6.7% annually in June, decelerating from May’s 8.1% expansion and undershooting market expectations of a 7.0% increase.

    Read more

  • Japan: Machinery orders decline in May

    July 11, 2018

    Although core machinery orders—a leading indicator of capital spending over a three- to six-month period—contracted in May, the fall was weaker-than-expected, suggesting that capital expenditure will gain steam further down the road.

    Read more

  • Japan: Business confidence weakens in Q2

    July 2, 2018

    According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers fell in the second quarter of 2018, suggesting economic momentum has yet to gain traction following a weak first quarter.

    Read more

  • Japan: Consumer confidence declines marginally in June

    June 29, 2018

    Consumer sentiment inched down to 43.7 in June from 43.8 in May, coming in just below market expectations of a stable print.

    Read more

More news

Search form