Japan’s annual inflation eased to 1.3% in February 2026 from 1.5% in the prior month, the lowest since March 2022. Food inflation remained near a 15-month low (4.0% vs 3.9% in January), driven by the slowest rise in rice prices in 21 months. Price growth also slowed for transport (0.5% vs 0.6%) and clothing (2.1% vs 2.4%). Energy costs stayed negative, with electricity (-8.0% vs -1.7%) and gas (-5.1% vs -2.0%) falling at a steeper rate, reflecting subsidy effects. Education costs fell further (-5.6% vs -5.6%). In contrast, inflation held steady for housing (at 1.0%), healthcare (at 0.4%), and miscellaneous goods (at 0.6%) while accelerating for household items (1.2% vs 0.8%), communications (6.8% vs 6.7%), and recreation (2.2% vs 2.1%). Core inflation slipped to 1.6% from January's 2.0%, the lowest since March 2022, below the central bank’s 2% target for the first time since March 2022. Monthly, the CPI fell 0.2%, matching January's reading and extending declines for the third month. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan decreased to 1.30 percent in February from 1.50 percent in January of 2026. Inflation Rate in Japan averaged 2.85 percent from 1958 until 2026, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

Inflation Rate in Japan decreased to 1.30 percent in February from 1.50 percent in January of 2026. Inflation Rate in Japan is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Inflation Rate is projected to trend around 2.20 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-19 11:30 PM
Inflation Rate YoY
Jan 1.5% 2.1% 1.9%
2026-03-23 11:30 PM
Inflation Rate YoY
Feb 1.3% 1.5% 1.3%
2026-04-23 11:30 PM
Inflation Rate YoY
Mar 1.3% 1.5%

Components Last Previous Unit Reference
Food Inflation 4.00 3.90 percent Feb 2026
Goods Inflation 1.20 1.60 percent Feb 2026
Rent Inflation 0.50 0.50 percent Feb 2026
Services Inflation 1.40 1.40 percent Feb 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 112.20 112.90 points Feb 2026
Core Consumer Prices 111.40 112.00 points Feb 2026
Core Inflation Rate YoY 1.60 2.00 percent Feb 2026
CPI Clothes and Footwear 111.20 111.20 points Feb 2026
Inflation Rate Ex-Food and Energy YoY 2.50 2.60 percent Feb 2026
CPI Education 95.80 95.60 points Feb 2026
CPI Food 129.00 129.50 points Feb 2026
CPI Housing Utilities 104.60 104.60 points Feb 2026
CPI Recreation and Culture 115.80 115.20 points Feb 2026
CPI Transportation and Communication 99.80 99.70 points Feb 2026
Inflation Rate YoY 1.30 1.50 percent Feb 2026
Inflation Rate MoM -0.20 -0.20 percent Feb 2026
Tokyo Core CPI YoY 1.70 1.80 percent Mar 2026
Tokyo CPI YoY 1.40 1.50 percent Mar 2026
Tokyo CPI Ex Food and Energy YoY 2.30 2.50 percent Mar 2026


Japan Inflation Rate
In Japan, the most important categories in the consumer price index are Food (26 percent of total weight) and Housing (21 percent). Transportation and communications account for 15 percent; Culture and recreation for 9 percent; Fuel, light and water charges for 7 percent; Miscellaneous goods and services for 6 percent; and Medical care for 5 percent. Furniture and household utensils, Clothes and footwear, and Education account for the remaining 10 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.50 24.90 -2.50 1958 - 2026 percent Monthly
NSA

News Stream
Japan Inflation Falls to Near 4-Year Low
Japan’s annual inflation eased to 1.3% in February 2026 from 1.5% in the prior month, the lowest since March 2022. Food inflation remained near a 15-month low (4.0% vs 3.9% in January), driven by the slowest rise in rice prices in 21 months. Price growth also slowed for transport (0.5% vs 0.6%) and clothing (2.1% vs 2.4%). Energy costs stayed negative, with electricity (-8.0% vs -1.7%) and gas (-5.1% vs -2.0%) falling at a steeper rate, reflecting subsidy effects. Education costs fell further (-5.6% vs -5.6%). In contrast, inflation held steady for housing (at 1.0%), healthcare (at 0.4%), and miscellaneous goods (at 0.6%) while accelerating for household items (1.2% vs 0.8%), communications (6.8% vs 6.7%), and recreation (2.2% vs 2.1%). Core inflation slipped to 1.6% from January's 2.0%, the lowest since March 2022, below the central bank’s 2% target for the first time since March 2022. Monthly, the CPI fell 0.2%, matching January's reading and extending declines for the third month.
2026-03-23
Japan Inflation Lowest Since 2022
Japan’s annual inflation eased to 1.5% in January 2026 from 2.1% in the prior month, the lowest since March 2022. Food inflation fell to a 15-month low (3.9% vs 5.1% in December), driven by the slowest rise in rice prices in 18 months. Price growth also eased for transport (0.6% vs 1.9%), healthcare (0.4% vs 0.7%), household items (0.8% vs 1.6%), recreation (2.1% vs 2.3%), and miscellaneous goods (0.6% vs 0.8%). Energy costs stayed negative, with electricity (-1.7% vs -2.3%) and gas (-2.0% vs -2.1%) falling for the second straight month, reflecting subsidy effects. At the same time, education costs declined further (-5.6% vs -5.6%). In contrast, inflation held steady for housing (at 1.0%) while accelerating for clothing (2.4% vs 2.0%) and communications (6.7% vs 6.2% ). Core inflation slipped to 2.0% from 2.4%, the lowest since January 2024, within the central bank’s 2% target. Monthly, CPI fell 0.2%, following a 0.1% drop in December.
2026-02-19
Japan Inflation Falls to Lowest Since 2022
Japan’s annual inflation eased to 2.1% in December 2025 from 2.9% in the prior month, the lowest since March 2022. Food inflation fell to a 13-month low (5.1% vs 6.1%), driven by the slowest rise in rice prices in 16 months. Price growth also eased across clothing (2.0% vs 2.3%), transport (1.9% vs 3.3%), healthcare (0.7% vs 0.8%), household items (1.6% vs 1.8%), and communications (6.2% vs 6.9%). Energy costs turned negative, with electricity (-2.3% vs 4.9%) and gas (-2.1% vs 0.7%) falling for the first time in four months, reflecting subsidy effects. Education costs declined further (-5.6% vs -5.6%). In contrast, recreation inflation held steady (at 2.3%), while housing (1.0% vs 0.9%) and miscellaneous goods (0.8% vs 0.6%) edged higher. Core inflation slipped to 2.4% from 3.0%, the lowest since October 2024, though still above the central bank’s 2% target for the 45th straight month. Monthly, CPI fell 0.1%, reversing November’s 0.3% gain and marking the first drop in nine months.
2026-01-22