Inflation in Japan
Japan - Inflation (end of period)
Core inflation falls to a nearly two-year low in August
The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in August, matching July’s result.
Core inflation declined from 0.6% in July to 0.5% in August. Although the reading was in line with market analysts’ expectations, it represented the lowest print since August 2017. Therefore, inflation remained well below the Bank of Japan’s inflation target of 2.0%. Meanwhile, overall inflation dropped from July’s 0.5% to 0.3% in August.
Core inflation in the Ku-area of Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—fell from 0.7% in August to 0.5% in September.
The median inflation forecast among BoJ members is 1.0% for FY 2019 and 1.3% for FY 2020, including the effects of the consumption tax hike. FocusEconomics Consensus Forecast panelists expect inflation of 0.8% in calendar year 2019, which is unchanged from last month’s estimate. In 2020, the panel sees inflation at 1.1%.
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||-0.28||-4.41 %||Sep 04|
|Exchange Rate||106.4||-0.35 %||Sep 04|
|Stock Market||20,649||0.40 %||Sep 04|
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October 10, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, contracted for the second month in a row in August, suggesting that an uncertain global economic outlook is weighing on investment planning.
October 2, 2019
Consumer sentiment declined from 37.1 in August to 35.6 in September.
October 1, 2019
According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers in Q3 2019 declined to the lowest point since Q2 2013 as rising trade protectionism and subdued global growth take their toll on Japan’s all-important external sector.
September 30, 2019
Industrial production fell 1.2% on a month-on-month and seasonally-adjusted basis in August, contrasting July’s 1.3% increase.
September 24, 2019
The Jibun Bank flash composite Purchasing Managers’ Index (PMI) fell from August’s 51.9 to 51.5 in September.