Inflation in Japan
Japan - Inflation (end of period)
Core inflation falls to seven-month low in December
The core consumer price index fell 0.1% in month-on-month seasonally-adjusted terms in December, contrasting November’s flat reading.
Core inflation fell from November’s 0.9% to 0.7% in December, the lowest reading in seven months. The decline mostly reflected December’s drop in oil prices and undershot the 0.8% that market analysts had expected. Therefore, inflation remained well below the Bank of Japan’s inflation target of 2.0%. Overall inflation declined from November’s 0.8% to an over two-year low of 0.3% in December.
Core inflation in the Ku-area of Tokyo inched down from November’s 1.0% to 0.9% in December. Data for January will be released on 25 January.
Japan Inflation Forecast
The median inflation forecast among BoJ members is 1.9% for FY 2019 and 2.0% for FY 2020, including the effects of the consumption tax hike. FocusEconomics Consensus Forecast panelists expect inflation of 1.2% in calendar year 2019, which is unchanged from last month’s estimate. In 2020, the panel sees inflation at 1.6%.
Japan - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||1.7||2.4||0.1||0.3||1.1|
5 years of economic forecasts for more than 30 economic indicators.
Japan Inflation (eop) Chart
Source: Statistics Bureau of Japan and FocusEconomics calculations.
|Bond Yield||0.01||-4.41 %||Jan 16|
|Exchange Rate||109.1||-0.35 %||Jan 16|
|Stock Market||20,443||0.40 %||Jan 16|
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January 18, 2019
The core consumer price index fell 0.1% in month-on-month seasonally-adjusted terms in December, contrasting November’s flat reading. Core inflation fell from November’s 0.9% to 0.7% in December, the lowest reading in seven months.
January 18, 2019
Industrial production fell 1.0% on a month-on-month and seasonally-adjusted basis in November (previously reported: -1.1% month-on-month), contrasting October’s 2.9% expansion. On an annual basis, industrial output rose 1.5% in November, following the 4.2% increase logged in October.
January 16, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, stalled in November, suggesting that firms may trim capital expenditure in the coming months.
January 8, 2019
Consumer sentiment fell from 42.9 in November to 42.7 in December, marking the lowest reading since December 2016.
December 21, 2018
The core consumer price index was stable in month-on-month seasonally-adjusted terms in November, down from October’s 0.2% increase. Core inflation inched down to 0.9% in November compared to October’s 1.0%, missing analysts’ expectations of 1.0%.