Japan Inflation September 2021


Japan: Core inflation hits highest level since March 2020 in September

October 22, 2021

Core consumer prices—which exclude fresh food—increased 0.10% in September over the previous month, swinging from the 0.10% drop seen in August.

Core consumer prices rose 0.1% in September on an annual basis, contrasting August’s flat reading. September's figure marked the highest inflation rate since March 2020. Meanwhile, the trend pointed up slightly, with the annual average variation of core consumer prices coming in at minus 0.5% in September (August: -0.6%). Finally, consumer price inflation came in at 0.2% in September, contrasting the previous month's 0.4% decrease in prices.

FocusEconomics panelists expect overall consumer prices to increase 0.1% in 2021, which is down 0.1 percentage points from last month’s estimate. In 2022, the panel sees prices rising 0.6%.


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Japan Inflation Chart

Japan Inflation September 2021

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

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