The annual inflation rate in Japan was unchanged at 3.3% in July 2023 but was notably higher than market forecasts of 2.5%. Prices continued to rise for food (8.8% vs 8.4% in June), housing (1.1% vs 1.1%), transport (2.2% vs 2.2%); furniture & household utensils (8.4% vs 8.6%); clothes (4.1% vs 3.9%), medical care (2.2% vs 2.4%), education (1.3% vs 1.3%), culture & recreation (4.8% vs 3.5%), and miscellaneous (1.2% vs 1.5%). In contrast, prices of fuel, light, and water charges decreased for the sixth month in a row (-9.6% vs -6.6%), mainly due to electricity (-16.6% vs -12.4%). Meantime, core inflation fell to a 4-month low of 3.1% in July, from 3.3% in June, matching consensus but staying outside the Bank of Japan's 2% target for the 16th month. On a monthly basis, consumer prices rose 0.4%, the most in three months, after a 0.2% gain in June. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan averaged 2.85 percent from 1958 until 2023, reaching an all time high of 24.90 percent in February of 1974 and a record low of -2.50 percent in October of 2009. This page provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in Japan is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Inflation Rate is projected to trend around 1.90 percent in 2024 and 1.60 percent in 2025, according to our econometric models.

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Japan Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-20 11:30 PM Jun 3.3% 3.2% 3.5% 3.3%
2023-08-17 11:30 PM Jul 3.3% 3.3% 2.5% 3.1%
2023-09-21 11:30 PM Aug 3.3%


Related Last Previous Unit Reference
Inflation Rate 3.30 3.30 percent Jul 2023
Inflation Rate MoM 0.40 0.20 percent Jul 2023
Core Inflation Rate 3.10 3.30 percent Jul 2023
Food Inflation 8.80 8.40 percent Jul 2023
Tokyo CPI 2.90 3.20 percent Aug 2023
CPI Transportation 96.40 94.90 points Jul 2023
CPI Core Core 4.30 4.20 percent Jul 2023

Japan Inflation Rate
In Japan, the most important categories in the consumer price index are Food (26 percent of total weight) and Housing (21 percent). Transportation and communications account for 15 percent; Culture and recreation for 9 percent; Fuel, light and water charges for 7 percent; Miscellaneous goods and services for 6 percent; and Medical care for 5 percent. Furniture and household utensils, Clothes and footwear, and Education account for the remaining 10 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.30 24.90 -2.50 1958 - 2023 percent Monthly
NSA

News Stream
Japan Inflation Rate Above Estimates
The annual inflation rate in Japan was unchanged at 3.3% in July 2023 but was notably higher than market forecasts of 2.5%. Prices continued to rise for food (8.8% vs 8.4% in June), housing (1.1% vs 1.1%), transport (2.2% vs 2.2%); furniture & household utensils (8.4% vs 8.6%); clothes (4.1% vs 3.9%), medical care (2.2% vs 2.4%), education (1.3% vs 1.3%), culture & recreation (4.8% vs 3.5%), and miscellaneous (1.2% vs 1.5%). In contrast, prices of fuel, light, and water charges decreased for the sixth month in a row (-9.6% vs -6.6%), mainly due to electricity (-16.6% vs -12.4%). Meantime, core inflation fell to a 4-month low of 3.1% in July, from 3.3% in June, matching consensus but staying outside the Bank of Japan's 2% target for the 16th month. On a monthly basis, consumer prices rose 0.4%, the most in three months, after a 0.2% gain in June.
2023-08-17
Japan Inflation Rate Below Estimates in June
The annual inflation rate in Japan edged up to 3.3% in June 2023 from 3.2% in May but less than market forecasts of 3.5%. Cost continued to rise for food (8.4% vs 8.6% in May); housing (1.1% vs 1.2%); transport (2.2% vs 2.2%); furniture & household utensils (8.6% vs 9.6%); clothes (3.9% vs 3.9%), medical care (2.4% vs 2.1%); culture & recreation (3.5% vs 3.4%); education (1.3% vs 1.3%), and miscellaneous (1.5% vs 1.3%). In contrast, prices of fuel, light, and water charges decreased for the fifth month in a row (-6.6% vs -8.3%), mainly due to electricity (-12.4% vs -17.1%). Core inflation also ticked higher to 3.3% in June from 3.2% in May, matching consensus but staying outside the Bank of Japan's 2% target for the 15th month. On a monthly basis, consumer prices rose 0.2% after being flat in May.
2023-07-20
Japan Inflation Rate Unexpectedly Falls
The annual inflation rate in Japan unexpectedly declined to 3.2% in May 2023 from April's 3-month high of 3.5%, missing market forecasts of 4.1%. Cost of furniture & household utensils slowed (9.6% vs 10.0% in April); while prices of fuel, light, and water charges decreased for the fourth month in a row (-8.3% vs -3.8%), mainly due to electricity (-17.1% vs -9.3%). In contrast, inflation was unchanged for both housing (at 1.2%) and education (at 1.3%). At the same time, prices quickened for transport (2.2% vs 1.8%), clothes (3.9% vs 3.8%), medical care (2.1% vs 1.7%), and miscellaneous (1.3% vs 1.2%). Also, food prices rose the most since September 1976 (8.6% vs 8.4% in April). Core inflation also dropped to 3.2% in May from a 3-month peak of 3.4% in April, compared with forecasts of 3.1%, staying outside the Bank of Japan's 2% target for the 14th month. On a monthly basis, consumer prices were flat in May, after a 0.6% rise in April which was the steepest pace since April 2014.
2023-06-22