Japan's annual core consumer inflation, which excludes fresh food, went up to 0.8 percent in March 2019 from 0.7 percent in February and above market consensus of 0.7 percent. The figure came in well below the Bank of Japan's 2 percent target. The last time core inflation stood above 2 percent was March 2015. Excluding fresh food and energy, consumer prices rose 0.4 percent, the same pace as for the previous two months. Core Inflation Rate in Japan averaged 2.52 percent from 1971 until 2019, reaching an all time high of 24.70 percent in October of 1974 and a record low of -2.40 percent in August of 2009.
Core Inflation Rate in Japan is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Core Inflation Rate in Japan to stand at 1.30 in 12 months time. In the long-term, the Japan Core Inflation Rate is projected to trend around 1.60 percent in 2020, according to our econometric models.