Japan Inflation Rate

Last Release

Jan 31, 2024

Actual

2.2

Units In

2.6

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
24.9 Feb 1974	-2.5 Oct 2009	2.85 %	1958-2024	Ministry of Internal Affairs & Communications

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.

Latest Updates

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.