Japan: Inflation picks up in July from the prior month
Latest reading: Consumer prices rose 1.9% on a year-on-year basis in July, following a 1.6% increase in the prior month. July’s reading was the strongest since December 2025.
Relative to the prior month’s data, there were higher price pressures for transportation (+2.6% in annual terms vs +2.5% in June), food (+3.5% vs +3.2% in June) and energy (+0.6% vs -0.4% in June). Finally, the change in housing prices was the same as in the prior month (+1.0% in July and June).
Meanwhile, core consumer prices were up 1.8% on a year-on-year basis in July, following a 1.6% rise in the prior month.
Lastly, consumer prices were up 0.47% in July on a month-on-month basis, following a 0.10% rise in the prior month.