The annual inflation rate in Japan climbed to 2.8% in February 2024 from 2.2% in the prior month, accelerating for the first time in four months and reaching the highest since last November. The rise is mainly due to base effects, as energy subsidies introduced by the government in February 2023 are losing their effect. Prices of fuel, and light fell the least in 11 months (-3.0% vs -13.9%), due to electricity (-2.5% vs -21.0%) and gas (-9.4% vs -15.3%). Also, prices accelerated for culture & recreation (7.3% vs 6.8% in January) but inflation slowed for food (4.8% vs 5.7%), housing (0.6% vs 0.7%), transport (2.9% vs 3.0%), healthcare (1.8% vs 2.3%), clothes (2.6% vs 3.0%), furniture & household utensils (5.1% vs 6.5%), education (1.3% vs 1.4%), communication (1.4% vs 2.1%) and miscellaneous (1.1% vs 1.2%). The core inflation rate jumped to a four-month top of 2.8% from 2% in January, matching market forecasts while coming at or above the central bank’s 2% target for 23 straight months. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan increased to 2.80 percent in February from 2.20 percent in January of 2024. Inflation Rate in Japan averaged 2.85 percent from 1958 until 2024, 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 March of 2024.

Inflation Rate in Japan increased to 2.80 percent in February from 2.20 percent in January of 2024. Inflation Rate in Japan is expected to be 2.00 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 1.60 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-26 11:30 PM
Inflation Rate YoY
Jan 2.2% 2.6% 2.1%
2024-03-21 11:30 PM
Inflation Rate YoY
Feb 2.8% 2.2% 3%
2024-04-19 11:30 PM
Inflation Rate YoY
Mar 2.8% 2.0%

Components Last Previous Unit Reference
Food Inflation 4.80 5.70 percent Feb 2024
Goods Inflation 3.30 2.10 percent Feb 2024
Rent Inflation 0.20 0.20 percent Feb 2024
Services Inflation 2.20 2.20 percent Feb 2024

Related Last Previous Unit Reference
Core Inflation Rate YoY 2.80 2.00 percent Feb 2024
Inflation Rate Ex-Food and Energy YoY 3.20 3.50 percent Feb 2024
CPI Transportation 97.00 97.20 points Feb 2024
Inflation Rate YoY 2.80 2.20 percent Feb 2024
Inflation Rate MoM 0.00 0.00 percent Feb 2024
Tokyo CPI YoY 2.60 2.50 percent Mar 2024

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
2.80 2.20 24.90 -2.50 1958 - 2024 percent Monthly
NSA

News Stream
Japan Inflation Rate Rises to 3-Month Peak
The annual inflation rate in Japan climbed to 2.8% in February 2024 from 2.2% in the prior month, accelerating for the first time in four months and reaching the highest since last November. The rise is mainly due to base effects, as energy subsidies introduced by the government in February 2023 are losing their effect. Prices of fuel, and light fell the least in 11 months (-3.0% vs -13.9%), due to electricity (-2.5% vs -21.0%) and gas (-9.4% vs -15.3%). Also, prices accelerated for culture & recreation (7.3% vs 6.8% in January) but inflation slowed for food (4.8% vs 5.7%), housing (0.6% vs 0.7%), transport (2.9% vs 3.0%), healthcare (1.8% vs 2.3%), clothes (2.6% vs 3.0%), furniture & household utensils (5.1% vs 6.5%), education (1.3% vs 1.4%), communication (1.4% vs 2.1%) and miscellaneous (1.1% vs 1.2%). The core inflation rate jumped to a four-month top of 2.8% from 2% in January, matching market forecasts while coming at or above the central bank’s 2% target for 23 straight months.
2024-03-21
Japan Inflation Rate Falls to 22-Month Low
The annual inflation rate in Japan dropped to 2.2% in January 2024 from 2.6% in the prior month, pointing to the lowest figure since March 2022, as food prices rose the least in 16 months (5.7% vs 6.7% in December). Also, cost eased for healthcare (2.3% vs 2.4%), culture & recreation (6.8% vs 7.8%), communication (2.1% vs 4.8%), and miscellaneous (1.2% vs 1.3%). At the same time, prices of fuel, and light fell for the 12th month (-11.9% vs -13.2%), due to electricity (-21.0% vs -20.5%) and gas (-15.3% vs -13.8%). By contrast, inflation was unchanged for housing (at 0.7%), clothes (at 3.0%), and furniture & household utensils (at 6.5%). Meanwhile, prices accelerated for transport (3.0% vs 2.9%) and education (1.4% vs 1.3%). The core inflation rate fell to a 22-month low of 2.0% from 2.3% in December, above market consensus of 1.8%, but within the Bank of Japan's 2% target after surpassing that level for 21 months. Monthly, consumer prices were flat after edging up 0.1% in December.
2024-02-26
Japan Inflation Rate Drops to 17-Month Low
The annual inflation rate in Japan fell to 2.6% in December 2023 from 2.8% in the prior month, pointing to the lowest figure since July 2022, as food prices rose the least in 14 months (6.7% vs 7.3% in November). Also, cost moderated for both healthcare (2.4% vs 2.5%) and communication (4.8% vs 4.9%). At the same time, prices of fuel, and light fell for the 11th consecutive month (-13.2% vs -11.4%), due to electricity (-20.5% vs -18.1%) and gas (-13.8% vs -11.6%). By contrast, inflation was unchanged for housing (at 0.7%) and education (at 1.3%) while prices accelerated for transport (2.9% vs 2.8%), clothes (3.0% vs 2.8%), furniture & household utensils (6.5% vs 6.1%), and culture & recreation (7.8% vs 7.5%). Meanwhile, the core inflation rate was down to 2.3%, the lowest in 18 months, from 2.5% in November, matching consensus, but stayed outside the Bank of Japan's 2% target for the 21st month. Monthly, consumer prices edged up 0.1% in December, after being flat in November.
2024-01-18