Japan Inflation November 2017

Japan

Japan: Core inflation continues to rise in November

December 26, 2017

In November, the core consumer price index rose 0.2% from the previous month in seasonally-adjusted terms, matching October’s result.

Core inflation rose from October’s 0.8% to 0.9% in November, which represented the highest reading since March 2015. The print was slightly above the 0.8% that market analysts had expected. Overall inflation rose from 0.2% in October to 0.6% in November.

Core inflation for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—rose from November’s 0.6% to 0.8% in December.

Japan Inflation Forecast


The Bank of Japan (BoJ) expects that core inflation will be 1.4% in the fiscal year ending March 2019. In the following fiscal year, the BoJ sees inflation rising to 2.3%. FocusEconomics Consensus Forecast panelists expect inflation of 0.8% in calendar year 2018, which is unchanged from last month’s estimate. In 2019, the panel sees inflation at 1.2%.


Author: Ricard Torné, Lead Economist

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Japan Inflation November 2017

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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