The core consumer price index in Japan, which excludes fresh food but includes fuel costs, increased 2.1% in May 2022 from a year earlier, exceeding the central bank’s target for a second straight month and highlighting the intensifying pressure on the country’s fragile economy from soaring global raw material costs. The core inflation print also posted gains for the ninth consecutive month, with analysts suggesting that rising fuel and food prices caused by the war in Ukraine and a weakening yen that inflates import costs are expected to keep Japan’s inflation elevated for most of this year. This also presents a challenge to the Bank of Japan which views such cost-push inflation as temporary and a risk to consumption. BOJ Governor Haruhiko Kuroda has repeatedly said the central bank will keep monetary policy ultra-loose until robust domestic demand and strong wage growth become key drivers of inflation. 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 June 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.