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.