Japan's consumer price inflation eased to a 5-month low of 0.8 percent year-on-year in November 2018 from 1.4 percent in the previous month, in line with market expectations. Food and transport prices rose at a slower pace while housing costs continued to fall. On a monthly basis, consumer prices declined 0.2 percent in November, the first monthly drop since April, after a 0.2 percent rise in October. Inflation Rate in Japan averaged 2.99 percent from 1958 until 2018, reaching an all time high of 24.90 percent in February of 1974 and a record low of -2.50 percent in October of 2009.

Inflation Rate in Japan is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Japan to stand at 1.10 in 12 months time. In the long-term, the Japan Inflation Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.

Japan Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-20 11:30 PM Inflation Rate YoY 1.3% 0.9% 1.1% 1%
2018-10-18 11:30 PM Inflation Rate YoY 1.2% 1.3% 1.1%
2018-11-21 11:30 PM Inflation Rate YoY 1.4% 1.2% 1.4% 1.2%
2018-12-20 11:30 PM Inflation Rate YoY 0.8% 1.4% 0.8% 1.4%
2019-01-17 11:30 PM Inflation Rate YoY 0.8% 0.3% 0.6%
2019-02-21 11:30 PM Inflation Rate YoY
2019-03-21 11:30 PM Inflation Rate YoY



Japan Inflation Rate Slows to 5-Month Low

Japan's consumer price inflation eased to a 5-month low of 0.8 percent year-on-year in November 2018 from 1.4 percent in the previous month, in line with market expectations. Food and transport prices rose at a slower pace while housing costs continued to fall.

Prices of food increased by 0.5 percent from a year earlier in November, much slower than a 2.4 percent rise in October. It was the lowest food inflation in five months, as cost rose less for: meats (0.1 percent vs 0.4 percent), fruits (3.6 percent vs 7.8 percent), of which fresh fruits (3.6 percent vs 8.3 percent); cooked food (0.6 percent vs 0.7 percent); cereals (1.1 percent vs 1.6 percent); fish & seafood (1.5 percent vs 1.6 percent), of which fresh fish & seafood (-0.2 percent vs 0.1 percent); and dairy products & eggs (2.8 percent vs 3 percent). In addition, prices decreased for vegetables & seaweeds (-2 percent vs 14.4 percent), of which fresh vegetables (-4.5 percent vs 20.4 percent), and alcoholic beverages (-1.1 percent vs -1.2 percent). Meals outside the home inflation edged up 1.1 percent from 1 percent. 

Cost went up at a softer rate for transportation & communication (1.2 percent vs 1.9 percent); and culture & recreation (1 percent vs 1.4 percent), while continued to fall for housing (-0.1 percent vs -0.2 percent) and furniture & household utensils (-0.7 percent vs -1 percent). Meantime, inflation was unchanged for both clothes & footwear (at 0.1 percent) and education (at 0.5 percent), while picked up for fuel, light & water charges (5 percent vs 4.4 percent), of which electricity (5.6 percent vs 4.5 percent) and gas (4 percent vs 3.2 percent); miscellaneous goods & services (0.9 percent vs 0.8 percent); and medical care (1.2 percent vs 1.1 percent). 

Core inflation rate, which excludes fresh food, slowed to 0.9 percent in November from 1 percent in the previous month and slightly below expectations of 1 percent. It marked the lowest core rate in three months.

On a monthly basis, consumer prices declined 0.2 percent in November, the first monthly drop since April, after a 0.2 percent rise in October.


Statistics Japan | Rida | rida@tradingeconomics.com
12/21/2018 12:17:44 PM



Japan Prices Last Previous Highest Lowest Unit
Inflation Rate 0.80 1.40 24.90 -2.50 percent [+]
Inflation Rate Mom -0.20 0.20 4.10 -1.10 percent [+]
Consumer Price Index CPI 101.80 102.00 102.00 17.40 Index Points [+]
Core Consumer Prices 101.30 101.60 101.60 31.00 Index Points [+]
Core Inflation Rate 0.90 1.00 24.70 -2.40 percent [+]
GDP Deflator 101.10 104.10 120.00 87.80 Index Points [+]
Producer Prices 101.50 102.10 112.50 47.40 Index Points [+]
Export Prices 97.90 98.10 207.30 84.10 Index Points [+]
Import Prices 104.40 103.30 190.40 45.90 Index Points [+]
Food Inflation 0.50 2.40 31.60 -3.70 percent [+]
CPI Housing Utilities 99.60 99.60 102.20 25.50 Index Points [+]
CPI Transportation 100.00 100.30 104.40 38.50 Index Points [+]
Producer Prices Change 1.50 2.30 33.90 -8.60 percent [+]


Japan Inflation Rate

In Japan, the most important categories in the consumer price index are Food (25 percent of total weight) and Housing (21 percent). Transportation and communications accounts for 14 percent; Culture and recreation for 11.5 percent; Fuel, light and water charges for 7 percent; Medical care for 4.3 percent; Clothes and footwear for 4 percent. Furniture and household utensils, Education and Miscellaneous goods and services account for the remaining. This page provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Inflation Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.80 1.40 24.90 -2.50 1958 - 2018 percent Monthly
2015=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 1.70 Nov/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.80 Nov/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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