Japan's National CPI rises 2.8% YoY, but Core CPI rises less than expected

Japan's National Consumer Price Index (CPI) rose on an annualized basis, with headline CPI inflation climbing 2.8% YoY versus the previous print of 2.5%.

Core CPI inflation, or headline CPI inflation less volatile food prices, rose less than median market estimates, climbed 2.5% versus the previous 2.2% compared to the market forecast of 2.6%.

Core-core Japanese CPI, or CPI inflation less both food and energy prices, eased back to 2.1% from the previous 2.4%.

Japan's national-level CPI inflation print tends to be previewed by Tokyo CPI inflation several weeks prior, leaving a muted market impact from nationwide aggregated inflation figures.

Economic Indicator

National CPI ex Fresh Food (YoY)

Japan’s National Consumer Price Index (CPI), released by the Statistics Bureau of Japan on a monthly basis, measures the price fluctuation of goods and services purchased by households nationwide excluding fresh food, whose prices often fluctuate depending on the weather. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Japanese Yen (JPY), while a low reading is seen as bearish.

Last release: Thu Jun 20, 2024 23:30

Frequency: Monthly

Actual: 2.5%

Consensus: 2.6%

Previous: 2.2%

Source: Statistics Bureau of Japan