Japan: Core CPI - Exclude Fresh Food (YoY)

Macro

2026-10-23

Description

The Japan Core Consumer Price Index (Core-CPI) is released by the Statistics Bureau of Japan. This index measures the average price changes of goods and services purchased by households nationwide, excluding fresh food items that are subject to significant price fluctuations. It provides a clearer and more stable view of inflation trends. The Bank of Japan uses this index to set its 2% inflation target, ensuring that the Japanese economy grows while allowing the market to assess whether the economy is overheating and whether the Bank of Japan's monetary policy is appropriate.

Published by
Ministry of Internal Affairs and Communications (Choice)
Frequency
Monthly
Next Update
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AI Data Insight

Japan's core CPI annual growth rate for September 2026 (Q3) rose to 2.1%, which not only met market expectations but also expanded significantly compared to the previous reading of 1.7%, breaking above the Bank of Japan's 2% inflation target for the first time in nine months. Driven by a weak yen and rising energy costs, the "core-core CPI" excluding energy also accelerated, and service prices further reflected the pass-through effect of wage costs. As underlying inflation pressures spread, market expectations for a further interest rate hike by the Bank of Japan before the end of the year have risen sharply.

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AI Data Insight

Japan's core CPI annual growth rate for September 2026 (Q3) rose to 2.1%, which not only met market expectations but also expanded significantly compared to the previous reading of 1.7%, breaking above the Bank of Japan's 2% inflation target for the first time in nine months. Driven by a weak yen and rising energy costs, the "core-core CPI" excluding energy also accelerated, and service prices further reflected the pass-through effect of wage costs. As underlying inflation pressures spread, market expectations for a further interest rate hike by the Bank of Japan before the end of the year have risen sharply.

Dive in →

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Description

The Japan Core Consumer Price Index (Core-CPI) is released by the Statistics Bureau of Japan. This index measures the average price changes of goods and services purchased by households nationwide, excluding fresh food items that are subject to significant price fluctuations. It provides a clearer and more stable view of inflation trends. The Bank of Japan uses this index to set its 2% inflation target, ensuring that the Japanese economy grows while allowing the market to assess whether the economy is overheating and whether the Bank of Japan's monetary policy is appropriate.

Published by
Ministry of Internal Affairs and Communications (Choice)
Frequency
Monthly
Next Update
Hashtags