Inflation Rate in Japan decreased to 3.70 percent in February from 4 percent in January of 2025. This dataset 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.

In 2023, Japan had an average inflation rate estimated at 3.21 percent, marking the highest rate of inflation in Japan in almost a decade. However, this figure was still very low compared to most other major economies, such as Japan's fellow G7 members, four of which had inflation rates around six or seven percent in 2023 due to the global inflation crisis. Why is Japan's inflation rate lower? There are a number of contributing factors to Japan's relatively low inflation rate, even during economic crises. Japan eased its Covid restrictions more slowly than most other major economies, this prevented post-pandemic consumer spending that may have driven inflation through supply chain issues caused by higher demand. As the majority of Japan's food and energy comes from overseas, and has done so for decades, the government has mechanisms in place to prevent energy and wheat prices from rising too quickly. Because of this, Japan was able to shield its private sector from many of the negative knock on effects from Russia's invasion of Ukraine, which had a significant impact on both sectors globally. Persistent deflation and national debt An additional factor that has eased the impact of inflation on Japan's economy is the fact that it experienced deflation before the pandemic. Deflation has been a persistent problem in Japan since the asset price bubble burst in 1992, and has been symptomatic of Japan's staggering national debt thereafter. For almost 30 years, a combination of quantitative easing, low interest rates (below 0.5 percent since 1995, and at -0.1% since 2016), and a lack of spending due to low wages and an aging population have combined to give Japan the highest national debt in the world in absolute terms, and second-highest debt in relation to its GDP, after Venezuela. Despite this soaring debt, Japan remains the fourth-largest economy in the world, behind the U.S., China, and Germany.

In February 2025, the inflation rate in Japan stood at 3.7 percent. The term inflation means the devaluation of money caused by a permanent increase of the price level for products (consumer goods, investment goods). The Consumer Price Index shows the price development for private expenses and shows the current level of inflation when increasing.

Core consumer prices in Japan increased 3 percent in February of 2025 over the same month in the previous year. This dataset provides - Japan Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In February 2025, Japan's core Consumer Price Index (CPI) for all items, excluding fresh food, grew by three percent compared to the previous year. A month earlier, rhe monthly core inflation had reached the highest level since June 2023.

The Consumer Price Index in Japan decreased 0.10 percent in February of 2025 over the previous month. This dataset provides - Japan Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In February 2025, the preliminary year-on-year growth rate of the core Consumer Price Index (CPI) in Tokyo Prefecture stood at 2.2 percent. The monthly core inflation in Tokyo decreased from 2.5 percent in January 2025.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Japan was 3.65 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 4.02 percent. Compared to a year ago, we see an increase from the inflation...

Services Inflation in Japan decreased to 1.30 percent in February from 1.40 percent in January of 2025. This dataset includes a chart with historical data for Japan Services Inflation.

Japan JP: Inflation:(GDP) Gross Domestic ProductDeflator data was reported at -0.215 % in 2017. This records a decrease from the previous number of 0.274 % for 2016. Japan JP: Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 1.612 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 22.973 % in 1970 and a record low of -1.895 % in 2010. Japan JP: Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Japan – Table JP.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

Key information about Japan Consumer Price Index CPI growth

• Japan Consumer Price Index (CPI) growth was measured at 3.6 % YoY in Feb 2025, compared with a rate of 4.0 % in the previous month.
• Japan Consumer Price Index growth data is updated monthly, available from Jan 1996 to Feb 2025, with an averaged number of 0.2 % YoY.
• The data reached an all-time high of 4.3 % YoY in Jan 2023 and a record low of -2.5 % YoY in Oct 2009.

CEIC calculates Consumer Price Index Growth from monthly Consumer Price Index. Statistical Bureau provides Consumer Price Index with base 2020=100. Consumer Price Index Growth prior to January 2011 is calculated from Consumer Price Index with base 2010=100, prior to January 2006 from Consumer Price Index with base 2005=100, prior to January 2001 from Consumer Price Index with base 2000=100 and prior to January 1997 from Consumer Price Index with base 1995=100. [COVID-19-IMPACT]

Japan JP: NAIRU: Equilibrium Unemployment Rate data was reported at 2.858 % in 2022. This records a decrease from the previous number of 2.886 % for 2021. Japan JP: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 3.318 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 4.375 % in 2003 and a record low of 2.257 % in 1985. Japan JP: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

CPI Core Core in Japan increased to 2.60 percent in February from 2.50 percent in January of 2025. This dataset provides - Japan CPI Core Core- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cost of food in Japan increased 7.60 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Japan Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Goods Inflation in Japan decreased to 5.70 percent in February from 6.30 percent in January of 2025. This dataset includes a chart with historical data for Japan Goods Inflation.

Tokyo CPI in Japan decreased to 2.90 percent in February from 3.40 percent in January of 2025. This dataset provides - Japan Tokyo CPI- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Japan JP: Core Inflation Index: YoY data was reported at 2.001 % in 2026. This records an increase from the previous number of 1.835 % for 2025. Japan JP: Core Inflation Index: YoY data is updated yearly, averaging 1.608 % from Dec 1966 (Median) to 2026, with 61 observations. The data reached an all-time high of 20.576 % in 1974 and a record low of -1.182 % in 2010. Japan JP: Core Inflation Index: YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. PCORE_YTYPCT - Core inflationOECD group, all items non-food non-energy. See exceptions at the country's serie metadata; OECD definition differs from the official Japanese core inflation.

Japan JP: Consumer Price Index (CPI): YoY data was reported at 2.091 % in 2026. This records an increase from the previous number of 1.918 % for 2025. Japan JP: Consumer Price Index (CPI): YoY data is updated yearly, averaging 1.899 % from Dec 1961 (Median) to 2026, with 66 observations. The data reached an all-time high of 23.212 % in 1974 and a record low of -1.363 % in 2009. Japan JP: Consumer Price Index (CPI): YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. CPI_YTYPCT- Headline inflation The CPI year-on-year changes is a measure of inflation

Japan JP: NAIRU: Unemployment Gap data was reported at -0.069 % in 2022. This records an increase from the previous number of -0.079 % for 2021. Japan JP: NAIRU: Unemployment Gap data is updated yearly, averaging -0.104 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 0.632 % in 2019 and a record low of -1.008 % in 2002. Japan JP: NAIRU: Unemployment Gap data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. GAPUNR - Unemployment gap Difference of nairu and unemployment rate OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

JP: Core Inflation Index data was reported at 1.042 Index, 2011 in 2022. This records an increase from the previous number of 1.037 Index, 2011 for 2021. JP: Core Inflation Index data is updated yearly, averaging 0.981 Index, 2011 from Dec 1960 (Median) to 2022, with 63 observations. The data reached an all-time high of 1.061 Index, 2011 in 1998 and a record low of 0.183 Index, 2011 in 1960. JP: Core Inflation Index data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. PCORE - Core inflation indexOECD group, all items non-food non-energy. See exceptions at the country serie metadataIndex, national reference year