The core consumer price index in Japan, which excludes fresh food but includes fuel costs, jumped 2.1% in April 2022 from a year earlier, hitting a more than seven-year high and rising above the Bank of Japan’s 2% target, driven by a weak yen and surging energy and other raw material costs. The core inflation print also rose for the eight straight month and accelerated from a 0.8% increase in March. The rise in consumer prices poses a challenge for the Japanese central bank which has retained its massive monetary stimulus as it seeks to have inflation stably reach 2% on the back of strong wage growth. Meanwhile, the overall rate of price increases in Japan has remained modest compared with much sharper rises in the US and other advanced economies, as sluggish wage growth makes it harder for firms to pass on higher prices to consumers. source: Statistics Bureau of Japan
Core Inflation Rate in Japan averaged 2.37 percent from 1971 until 2022, 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. This page provides - Japan Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Core Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Core Inflation Rate in Japan is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Core Inflation Rate is projected to trend around 0.70 percent in 2023, according to our econometric models.