Japan core inflation holds steady in May, matching expectations despite energy price concerns

Live updates

1. 1h ago

   Tokyo Core Inflation Accelerates in June

   Annual core inflation in Tokyo rose in June due to broadening price pressures from the Middle East conflict. The rate remained below the Bank of Japan target for the fifth consecutive month. Economists suggest overall inflation dynamics changed little from May.

   What's confirmed:

   • Annual core inflation in Tokyo accelerated in June.
   • Tokyo core inflation stayed below the Bank of Japan target for five months.

   Still unconfirmed:

   • Tokyo core-core CPI hit 1.9% as Middle East price pressures spread beyond energy.
   • Overall inflation dynamics in Japan changed little from May despite a modest upside surprise in headline and core readings.
   confidence 80%
2. 4d ago

   Japan Core Inflation Steady at 1.4% in May

   Japan's core consumer price index remained at 1.4% year-on-year for May. Government fuel subsidies and falling food prices offset rising energy costs. Underlying inflationary pressure remains a concern for policymakers.

   What's confirmed:

   • Japan's core consumer price index rose 1.4% year-on-year in May.
   • Headline inflation rose to 1.5%.
   • The May core CPI figure matched market expectations.

   Still unconfirmed:

   • The core-core measure eased to 1.8%.
   • Estimated core CPI inflation remains at 2.8% when excluding institutional and policy factors.
   • The Bank of Japan tightened policy to the highest level since 1995.
   • A weak yen is keeping inflation risk elevated due to dollar-denominated energy purchases.
   confidence 90%
3. 7d ago

   Japan core inflation held at 1.4% in May

   Japan's core consumer prices rose 1.4% year on year in May. This figure matched economist expectations and represents the lowest level since 2022. Headline inflation rose to 1.5% from 1.4%.

   What's confirmed:

   • Core inflation, which excludes fresh food, was 1.4% in May.
   • The May core inflation rate matched market expectations.
   • Headline inflation increased to 1.5% from 1.4%.
   • Core-core inflation decreased to 1.8% from 1.9%.
   • The 1.4% core inflation rate is the lowest level since 2022.
   confidence 100%
4. 9d ago

   Japan Core Inflation Holds Steady in May

   Japan's core inflation remained stable in May, matching market expectations. The national CPI rose 1.5% year-on-year, though core inflation stayed below the Bank of Japan target. Government subsidies helped restrain energy price pressures.

   What's confirmed:

   • Japan's national CPI rose 1.5% year-on-year in May.
   • Japan's core inflation held steady in May.
   • Inflation remained below the 2% Bank of Japan target for the fourth consecutive month.
   • Government subsidies restrained energy prices.

   Still unconfirmed:

   • Services excluding owners' equivalent rent rose 1.3% in May compared to 1.2% in April.
   confidence 90%