Japan Inflation


Japan: Deflation continues

October 28, 2010

Consumer prices rose 0.3% month-on-month in September, following on a price change of the same magnitude in August. The reading was mostly fueled by higher prices for fresh food (+5.6% mom) as well as clothing and footwear (+5.9% mom). Despite the monthly price hike, on an annual basis consumer prices declined 0.6% (August: -0.9% year-on-year). Moreover, the closely watched core consumer price index ? which excludes fresh food, alcoholic beverages, and energy ? declined 1.5% over the same month last year, unchanged from August. The reading represented the 19th consecutive month of declining core consumer prices. The Central Bank expects core consumer prices to decline an average 0.4% this fiscal year, which ends in March 2011. For the fiscal year 2011, monetary authorities see the country barely exiting deflation with a core inflation rate of 0.1% before reaching 0.6% in the fiscal year 2012, which is nearly half the 1.0% considered as price stability by the Bank of Japan.


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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.

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  • 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.

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  • 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.

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  • 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.

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  • 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.

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