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Japan Inflation August 2019

Japan: Core inflation falls to a nearly two-year low in August

The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in August, matching July’s result.

Core inflation declined from 0.6% in July to 0.5% in August. Although the reading was in line with market analysts’ expectations, it represented the lowest print since August 2017. Therefore, inflation remained well below the Bank of Japan’s inflation target of 2.0%. Meanwhile, overall inflation dropped from July’s 0.5% to 0.3% in August.

Core inflation in the Ku-area of Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—fell from 0.7% in August to 0.5% in September.

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