The annual inflation rate in Japan ticked lower to 2.7% in March 2024 from February's 3-month peak of 2.8%, matching market consensus. There were slowdowns in prices of transport (2.9% vs 3.0% in February), clothes (2.0% vs 2.6%), furniture & household utensils (3.2% vs 5.1%), healthcare (1.5% vs 1.8%), communication (0.2% vs 1.4%), and culture & recreation (7.2% vs 7.3%). At the same time, inflation was stable for food (at 4.8%), housing (at 0.6%), education (at 1.3%), and miscellaneous (at 1.1%). Meanwhile, prices of fuel, and light dropped the least in a year (-1.7% vs -3.0%), with electricity (-1.0% and -2.5%) and gas (-7.1% vs -9.4%) falling at softer paces as energy subsidies from the government would fully end in May. The core inflation rate fell to 2.6% from a four-month top of 2.8%, slightly below forecasts of 2.7%. Monthly, consumer prices rose by 0.2% in March, the most since last October, after being flat in the prior two months. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan decreased to 2.70 percent in March from 2.80 percent in February 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 April of 2024.

Inflation Rate in Japan decreased to 2.70 percent in March from 2.80 percent in February of 2024. Inflation Rate in Japan is expected to be 1.90 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
2024-03-21 11:30 PM
Inflation Rate YoY
Feb 2.8% 2.2% 3%
2024-04-18 11:30 PM
Inflation Rate YoY
Mar 2.7% 2.8% 2.7% 2.8%
2024-05-17 11:30 PM
Inflation Rate YoY
Apr 2.7%

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

Related Last Previous Unit Reference
Core Inflation Rate YoY 2.60 2.80 percent Mar 2024
Inflation Rate Ex-Food and Energy YoY 2.90 3.20 percent Mar 2024
CPI Transportation 96.90 97.00 points Mar 2024
Inflation Rate YoY 2.70 2.80 percent Mar 2024
Inflation Rate MoM 0.20 0.00 percent Mar 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
2.70 2.80 24.90 -2.50 1958 - 2024 percent Monthly
NSA

News Stream
Japan Inflation Rate Eases Slightly
The annual inflation rate in Japan ticked lower to 2.7% in March 2024 from February's 3-month peak of 2.8%, matching market consensus. There were slowdowns in prices of transport (2.9% vs 3.0% in February), clothes (2.0% vs 2.6%), furniture & household utensils (3.2% vs 5.1%), healthcare (1.5% vs 1.8%), communication (0.2% vs 1.4%), and culture & recreation (7.2% vs 7.3%). At the same time, inflation was stable for food (at 4.8%), housing (at 0.6%), education (at 1.3%), and miscellaneous (at 1.1%). Meanwhile, prices of fuel, and light dropped the least in a year (-1.7% vs -3.0%), with electricity (-1.0% and -2.5%) and gas (-7.1% vs -9.4%) falling at softer paces as energy subsidies from the government would fully end in May. The core inflation rate fell to 2.6% from a four-month top of 2.8%, slightly below forecasts of 2.7%. Monthly, consumer prices rose by 0.2% in March, the most since last October, after being flat in the prior two months.
2024-04-18
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