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Japan Core Inflation Rate

Last Release
Feb 29, 2024
Actual
2.8
Units In
%
Previous
2
Frequency
Monthly
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
24.7
Oct 1974
-2.4
Aug 2009
2.39 %1971-2024Statistics Bureau of Japan
In Japan, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes prices of fresh food.

Latest Updates

The core consumer price index in Japan, which excludes fresh food but includes fuel costs, rose 2.8% YoY in February 2024, accelerating from a 2% gain in January and posting the highest reading since October. The latest figure also matched analysts’ expectations. The rise is mainly due to base effects, as energy subsidies introduced by the government in February 2023 are losing their effect. Japan’s core inflation print has now been at or above the Bank of Japan’s 2% target for 23 consecutive months now. The central bank shifted monetary policy in March, raising interest rates for the first time since 2007 and ending eight years of negative interest rates amid rising wages and high inflation. The BOJ also halted yield curve control efforts, ended ETF and J-REIT purchases and announced plans to gradually reduce bond-buying activities. However, BOJ Governor Kazuo Ueda said the central bank will maintain an accommodative stance for some time, keeping rates at 0%.

Japan Core Inflation Rate History

Last 12 readings

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