Japan: CPI (YoY) - All Items

Macro

2026-03-24
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

Japan's Q1 2026 (February) CPI YoY growth dropped to 1.3%, continuing its pullback from the previous 1.5% and hitting a near four-year low. Although the core CPI fell below the 2% target due to energy subsidy policies, the core-core CPI (excluding energy and food) remained resilient. In the short term, geopolitical tensions pushing up oil prices pose an upside risk to inflation, and expectations for the Bank of Japan's monetary normalization and interest rate hikes remain on track.

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AI Data Insight

Japan's Q1 2026 (February) CPI YoY growth dropped to 1.3%, continuing its pullback from the previous 1.5% and hitting a near four-year low. Although the core CPI fell below the 2% target due to energy subsidy policies, the core-core CPI (excluding energy and food) remained resilient. In the short term, geopolitical tensions pushing up oil prices pose an upside risk to inflation, and expectations for the Bank of Japan's monetary normalization and interest rate hikes remain on track.

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