The core consumer price index in Japan, which excludes fresh food but includes fuel costs, rose 2.6% YoY in March 2024, slowing from a four-month high of 2.8% in February and coming in below forecasts of 2.7%. The deceleration came due to mild rises in food prices, but stayed above the Bank of Japan’s 2% target due to the yen’s weakness and high commodity prices. Japan’s core inflation print has now been at or above the Bank of Japan’s 2% target for 24 consecutive months now. The central bank shifted monetary policy in March, raising interest rates for the first time since 2007 and ending eight years of negative interest rates amid rising wages and high inflation. However, the BOJ is expected to remain accommodative for some time, with board member Asahi Noguchi saying that the pace of future policy adjustment is expected to be slow and cannot be compared to that of other major central banks in the recent tightening cycle. source: Statistics Bureau of Japan
Core consumer prices in Japan increased 2.60 percent in March of 2024 over the same month in the previous year. Core Inflation Rate in Japan averaged 2.39 percent from 1971 until 2024, 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 April of 2024.
Core consumer prices in Japan increased 2.60 percent in March of 2024 over the same month in the previous year. Core Inflation Rate in Japan is expected to be 1.80 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 2025, according to our econometric models.