Japan's consumer price inflation inched lower to 0.2 percent year-on-year in January 2019 from 0.3 percent in the previous month and in line with market expectations. It was the lowest inflation rate since October 2017, amid further decreases in prices of food, transport and housing. On a monthly basis, consumer prices rose by 0.3 percent in January, following a 0.2 percent drop in December and marking the first monthly increase in three months. Inflation Rate in Japan averaged 2.98 percent from 1958 until 2019, 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.

Inflation Rate in Japan is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Japan to stand at 1.40 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

Japan Inflation Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-11-21 11:30 PM Inflation Rate YoY 1.4% 1.2% 1.4% 1.2%
2018-12-20 11:30 PM Inflation Rate YoY 0.8% 1.4% 0.8% 1.4%
2019-01-17 11:30 PM Inflation Rate YoY 0.3% 0.8% 0.3% 0.6%
2019-02-21 11:30 PM Inflation Rate YoY 0.2% 0.3% 0.2% 0.5%
2019-03-21 11:30 PM Inflation Rate YoY 0.2% 0.3% 0.1%
2019-04-19 11:30 PM Inflation Rate YoY 0.2%
2019-05-17 11:30 PM Inflation Rate YoY 0.3%



Japan Inflation Rate Slows to 15-Month Low

Japan's consumer price inflation inched lower to 0.2 percent year-on-year in January 2019 from 0.3 percent in the previous month and in line with market expectations. It was the lowest inflation rate since October 2017, amid further decreases in prices of food, transport and housing.

Prices of food dropped by 1.5 percent year-on-year in January, after a 1.1 percent fall in December and marking the second straight month of declines. Among food, cost fell further for vegetables & seaweeds (-14.4 percent vs -12.7 percent), of which fresh vegetables (-21.2 percent vs -19.7 percent); fruits (-2.7 percent vs -0.3 percent), of which fresh fruits (-3.3 percent vs -0.7 percent); and oils, fats & seasonings (-0.6 percent vs -0.3 percent). In addition, prices slowed for cereals (0.7 percent vs 1.0 percent); and fish & seafood rose 1.5 percent (vs 1.8 percent), of which fresh fish & seafood (0.5 percent vs 0.6 percent), while was steady for cooked food (at 0.1 percent). Meantime, prices rose faster for: dairy products & eggs (2.8 percent vs 2.6 percent), meals outside the home (1.1 percent vs 1.0 percent) and meat (0.3 percent vs 0.1 percent).

Also, cost fell for furniture and household utensils (-0.1 percent vs 0.1 percent) and continued to decrease for housing (-0.1 percent, the same as in December). At the same time, cost of transportation & communication declined for the second consecutive month (-0.2 percent vs -0.1 percent). In contrast, inflation was steady for medical care (at 1.3 percent); and education (at 0.5 percent). Additionally, cost increased faster for culture & recreation (1.5 percent vs 0.9 percent); fuel, light & water charges (5.2 percent vs 5.0 percent), of which electricity (7.2 percent vs 6.4 percent) and gas (5.6 percent vs 4.8 percent); miscellaneous goods & services (0.9 percent vs 0.8 percent) and clothes & footwear (0.2 percent vs 0.1 percent).

Annual core consumer inflation, which excludes fresh food, went up to 0.8 percent in January from a seven-month low of 0.7 percent in December and matching market consensus. The figure came in well below the Bank of Japan's target of 2 percent.

On a monthly basis, consumer prices rose by 0.3 percent in January, following a 0.2 percent drop in December and reaching the first monthly increase in three months.



Statistics Japan l Rida Husna | rida@tradingeconomics.com
2/22/2019 9:22:40 AM



Japan Prices Last Previous Highest Lowest Unit
Inflation Rate 0.20 0.30 24.90 -2.50 percent [+]
Inflation Rate Mom 0.30 -0.20 4.10 -1.10 percent [+]
Consumer Price Index CPI 101.50 101.50 102.00 17.40 Index Points [+]
Core Consumer Prices 101.20 101.40 101.60 31.00 Index Points [+]
Core Inflation Rate 0.80 0.70 24.70 -2.40 percent [+]
GDP Deflator 104.40 101.00 120.00 87.80 Index Points [+]
Producer Prices 101.10 100.90 112.50 47.40 Index Points [+]
Export Prices 94.40 93.90 207.30 84.10 Index Points [+]
Import Prices 95.90 95.20 190.40 45.90 Index Points [+]
Food Inflation -1.50 -1.10 31.60 -3.70 percent [+]
CPI Housing Utilities 99.60 99.60 102.20 25.50 Index Points [+]
CPI Transportation 98.80 99.10 104.40 38.50 Index Points [+]
Producer Prices Change 0.80 0.60 33.90 -8.60 percent [+]


Japan Inflation Rate

In Japan, the most important categories in the consumer price index are Food (25 percent of total weight) and Housing (21 percent). Transportation and communications accounts for 14 percent; Culture and recreation for 11.5 percent; Fuel, light and water charges for 7 percent; Medical care for 4.3 percent; Clothes and footwear for 4 percent. Furniture and household utensils, Education and Miscellaneous goods and services account for the remaining. 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 - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.30 24.90 -2.50 1958 - 2019 percent Monthly
2015=100




Country Last Previous
Argentina 50.70 Feb/19
Australia 1.80 Dec/18
Brazil 3.89 Feb/19
Canada 1.40 Jan/19
China 1.50 Feb/19
Euro Area 1.50 Feb/19
France 1.30 Feb/19
Germany 1.50 Feb/19
India 2.57 Feb/19
Indonesia 2.57 Feb/19
Italy 1.00 Feb/19
Japan 0.20 Jan/19
Mexico 3.94 Feb/19
Netherlands 2.60 Feb/19
Russia 5.20 Feb/19
Saudi Arabia -1.90 Jan/19
Singapore 0.40 Jan/19
South Africa 4.00 Jan/19
South Korea 0.50 Feb/19
Spain 1.10 Feb/19
Switzerland 0.60 Feb/19
Turkey 19.67 Feb/19
United Kingdom 1.80 Jan/19
United States 1.50 Feb/19


Related

Latest