Japan: CPI (YoY) - All Items

Macro

2026-10-23

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

AI Data Insight

Japan's Consumer Price Index (CPI) annual growth rate reached 2.1% in the third quarter (September) of 2026, climbing further from 1.9% in the previous month and meeting market expectations. The core CPI, excluding fresh food, also climbed to 2.1%, surpassing the Bank of Japan's 2% inflation target for the first time in nine months. Amidst a broad-based rebound in inflation and an unexpectedly strong core-core CPI, market expectations for another interest rate hike by the BOJ in December have subsequently increased.

AI Data Insight

Japan's Consumer Price Index (CPI) annual growth rate reached 2.1% in the third quarter (September) of 2026, climbing further from 1.9% in the previous month and meeting market expectations. The core CPI, excluding fresh food, also climbed to 2.1%, surpassing the Bank of Japan's 2% inflation target for the first time in nine months. Amidst a broad-based rebound in inflation and an unexpectedly strong core-core CPI, market expectations for another interest rate hike by the BOJ in December have subsequently increased.

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