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Japan Inflation August 2023

Japan: Inflation drops to lowest level since September 2022 in August

Inflation inched down to 3.2% in August, following July’s 3.3%. August’s figure represented the weakest inflation rate since September 2022.

The trend was unchanged, with annual average inflation coming in at July’s 3.5% in August. Meanwhile, core inflation edged down to 3.0% in August from the previous month’s 3.1%. As such, both headline and core inflation remained above the Central Bank’s 2.0% target.

Finally, consumer prices increased 0.25% from the previous month in August, coming in below the 0.45% rise logged in July.

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