Japan: CPI (YoY) - All Items

Macro

2026-09-18

Description

The Consumer Price Index (CPI) in Japan is published by the Statistics Bureau of Japan, measuring the average price changes of goods and services purchased by households nationwide.

The CPI is a crucial indicator for the Bank of Japan (BOJ) to assess inflation and economic health, significantly influencing its monetary policy decisions.

Japan's CPI is presented in three different forms:

1. CPI (All items): Includes all goods and services.
2. Core CPI: Excludes fresh foods, which are subject to significant price volatility, providing a clearer view of the underlying inflation trend. The BOJ targets a 2% inflation rate based on this index.
3. Core-core CPI: Further excludes energy in addition to fresh foods, eliminating the most volatile components to provide a more accurate reflection of consumer prices.

Published by
Statistics Bureau of Japan (Choice)
Frequency
Monthly
Next Update
Hashtags
Consumption CPI Japan

AI Data Insight

The latest year-on-year growth rate of Japan's Q3 2026 Consumer Price Index (CPI) reported at 1.9%, flat compared to the previous value of 1.9%, indicating that overall price pressures remain firm. Driven by the reduction of energy subsidies and rising food prices, underlying inflation demonstrates high stickiness. Market consensus believes that against the backdrop of continuous cost pass-throughs, the Bank of Japan (BOJ) will further hike interest rates as early as the mid-September meeting.

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AI Data Insight

The latest year-on-year growth rate of Japan's Q3 2026 Consumer Price Index (CPI) reported at 1.9%, flat compared to the previous value of 1.9%, indicating that overall price pressures remain firm. Driven by the reduction of energy subsidies and rising food prices, underlying inflation demonstrates high stickiness. Market consensus believes that against the backdrop of continuous cost pass-throughs, the Bank of Japan (BOJ) will further hike interest rates as early as the mid-September meeting.

Dive in →

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Macro
Description

The Consumer Price Index (CPI) in Japan is published by the Statistics Bureau of Japan, measuring the average price changes of goods and services purchased by households nationwide.

The CPI is a crucial indicator for the Bank of Japan (BOJ) to assess inflation and economic health, significantly influencing its monetary policy decisions.

Japan's CPI is presented in three different forms:

1. CPI (All items): Includes all goods and services.
2. Core CPI: Excludes fresh foods, which are subject to significant price volatility, providing a clearer view of the underlying inflation trend. The BOJ targets a 2% inflation rate based on this index.
3. Core-core CPI: Further excludes energy in addition to fresh foods, eliminating the most volatile components to provide a more accurate reflection of consumer prices.

Published by
Statistics Bureau of Japan (Choice)
Frequency
Monthly
Next Update
Hashtags
Consumption CPI Japan