Japan: Core CPI - Exclude Fresh Food (YoY)

Macro

2026-07-24

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 YoY growth for the second quarter (June) of 2026 rose to 1.6%, showing a mild rebound from the previous value of 1.4% and fully meeting market expectations. This inflation rebound is primarily driven by the phase-out of government energy subsidies and the weak yen pushing up import costs, indicating an increase in overall price pressures. Although the data has remained below the central bank's 2% target for five consecutive months, it has provided data support for the Bank of Japan to maintain its tightening path in subsequent monetary policy meetings.

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AI Data Insight

Japan's core CPI YoY growth for the second quarter (June) of 2026 rose to 1.6%, showing a mild rebound from the previous value of 1.4% and fully meeting market expectations. This inflation rebound is primarily driven by the phase-out of government energy subsidies and the weak yen pushing up import costs, indicating an increase in overall price pressures. Although the data has remained below the central bank's 2% target for five consecutive months, it has provided data support for the Bank of Japan to maintain its tightening path in subsequent monetary policy meetings.

Dive in →

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Macro
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