Japan: Core CPI - Exclude Fresh Food (YoY)

Macro

2026-09-18

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

The annual growth rate of Japan's core consumer price index (CPI) for August 2026 (Q3) came in at 1.7%, pulling back from the previous month's 1.8% and falling short of the market consensus of 1.8%. The decline was primarily driven by the government's energy subsidy policies, which resulted in negative growth in energy prices; however, the "core-core CPI" excluding energy remained steady at 1.9%. Overall underlying inflationary pressures demonstrate resilience, with the market continuing to focus on the Bank of Japan's potential interest rate hike moves before the end of the year.

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AI Data Insight

The annual growth rate of Japan's core consumer price index (CPI) for August 2026 (Q3) came in at 1.7%, pulling back from the previous month's 1.8% and falling short of the market consensus of 1.8%. The decline was primarily driven by the government's energy subsidy policies, which resulted in negative growth in energy prices; however, the "core-core CPI" excluding energy remained steady at 1.9%. Overall underlying inflationary pressures demonstrate resilience, with the market continuing to focus on the Bank of Japan's potential interest rate hike moves before the end of the year.

Dive in →

You May Also Like

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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