Japan’s core consumer price index, which excludes fresh food but includes energy, increased 1.8% year-on-year in July 2026, following a 1.6% rise in June. It was the highest core inflation rate since January, in line with market forecasts. Still, the latest reading remained below the Bank of Japan’s 2% target for a seventh straight month, as government fuel subsidies helped offset price pressures from higher oil costs linked to the Middle East conflict. Meanwhile, the index excluding the effects of volatile fresh food and fuel, which the Bank of Japan closely watches as a better gauge of demand-driven price movements, climbed 1.9% year-on-year in July, marking the fastest increase in three months after posting the softest increase since August 2022 at 1.7% in June. The BoJ left interest rates at 1.0% at its July meeting, remaining at their highest level since September 1995, following a 25-bps hike in June to prevent higher oil prices from fueling inflation. source: Statistics Bureau of Japan
Core consumer prices in Japan increased 1.80 percent in July of 2026 over the same month in the previous year. Core Inflation Rate in Japan averaged 2.40 percent from 1971 until 2026, 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 September of 2026.
Core consumer prices in Japan increased 1.80 percent in July of 2026 over the same month in the previous year. Core Inflation Rate in Japan is expected to be 1.90 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 2.00 percent in 2027, according to our econometric models.