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Japan Inflation May 2023

Japan: Inflation moderates in May

Inflation came in at 3.2% in May, which was down from April’s 3.5%. The slowdown was largely due to a reduction in a levy for renewable energy development.

Annual average inflation was unchanged at April’s 3.3% in May. Meanwhile, core inflation edged down to 3.2% in May, from April’s 3.4%.

Lastly, consumer prices rose 0.07% from the previous month in May, which was below April’s 0.64% rise. May’s result marked the weakest reading since February.

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