Japan's annual inflation rate accelerated to 1.9% in July 2026 from a marginally revised 1.6% in the previous month, marking the highest reading since December 2025. The pickup was partly driven by a slower decline in electricity prices as government energy subsidies were scaled back. At the same time, additional upward pressure came from food (3.5% vs 3.2% in June), transport (2.6% vs 2.5%), household goods (3.7% vs 2.3%), healthcare (2.1% vs 1.6%), recreation (1.9% vs 1.4%), and miscellaneous items (0.4% vs 0.4%). In the meantime, housing inflation was steady (at 1.0%), while clothing prices rose at a slower rate (1.2% vs 1.4%). Education remained in deflation (-3.8% vs -3.8%). Core inflation, which excludes fresh food, rose to 1.8% from June's 1.6%, matching market expectations and reaching its highest level since March, though it remained below the Bank of Japan's 2% target for a sixth consecutive month. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan increased to 1.90 percent in July from 1.60 percent in June of 2026. Inflation Rate in Japan averaged 2.84 percent from 1958 until 2026, reaching an all time high of 24.90 percent in February of 1974 and a record low of -2.50 percent in October of 2009. This page 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. Japan Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

Inflation Rate in Japan increased to 1.90 percent in July from 1.60 percent in June of 2026. 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 Inflation Rate is projected to trend around 2.20 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-23 11:30 PM
Inflation Rate YoY
Jun 1.7% 1.5% 1.7%
2026-08-20 11:30 PM
Inflation Rate YoY
Jul 1.9% 1.6% 1.7%
2026-09-17 11:30 PM
Inflation Rate YoY
Aug 2%



Components Last Previous Unit Reference
Food Inflation 3.50 3.20 percent Jul 2026
Goods Inflation 2.70 2.20 percent Jul 2026
Rent Inflation 0.50 0.50 percent Jul 2026
Services Inflation 1.20 1.10 percent Jul 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 102.00 101.60 points Jul 2026
Core Consumer Prices 102.10 101.70 points Jul 2026
Core Inflation Rate YoY 1.80 1.60 percent Jul 2026
CPI Clothes and Footwear 100.50 101.60 points Jul 2026
Inflation Rate Ex-Food and Energy YoY 1.90 1.70 percent Jul 2026
CPI Education 95.40 95.50 points Jul 2026
CPI Food 103.10 102.40 points Jul 2026
CPI Housing Utilities 101.00 100.90 points Jul 2026
CPI Recreation and Culture 102.00 100.90 points Jul 2026
CPI Transportation and Communication 102.90 102.20 points Jul 2026
Inflation Rate YoY 1.90 1.60 percent Jul 2026
Inflation Rate MoM 0.40 0.30 percent Jul 2026
Tokyo Core CPI YoY 1.80 1.70 percent Aug 2026
Tokyo CPI YoY 1.90 1.80 percent Aug 2026
Tokyo CPI Ex Food and Energy YoY 2.00 1.80 percent Aug 2026


Japan Inflation Rate
In Japan, the most important categories in the consumer price index are Food (26 percent of total weight) and Housing (21 percent). Transportation and communications account for 15 percent; Culture and recreation for 9 percent; Fuel, light and water charges for 7 percent; Miscellaneous goods and services for 6 percent; and Medical care for 5 percent. Furniture and household utensils, Clothes and footwear, and Education account for the remaining 10 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.60 24.90 -2.50 1958 - 2026 percent Monthly
NSA

News Stream
Japan Inflation Rate Hits 7-Month High
Japan's annual inflation rate accelerated to 1.9% in July 2026 from a marginally revised 1.6% in the previous month, marking the highest reading since December 2025. The pickup was partly driven by a slower decline in electricity prices as government energy subsidies were scaled back. At the same time, additional upward pressure came from food (3.5% vs 3.2% in June), transport (2.6% vs 2.5%), household goods (3.7% vs 2.3%), healthcare (2.1% vs 1.6%), recreation (1.9% vs 1.4%), and miscellaneous items (0.4% vs 0.4%). In the meantime, housing inflation was steady (at 1.0%), while clothing prices rose at a slower rate (1.2% vs 1.4%). Education remained in deflation (-3.8% vs -3.8%). Core inflation, which excludes fresh food, rose to 1.8% from June's 1.6%, matching market expectations and reaching its highest level since March, though it remained below the Bank of Japan's 2% target for a sixth consecutive month.
2026-08-20
Japan Inflation Rate Rises to 6-Month High
Japan's annual inflation rate accelerated to 1.7% in June 2026 from 1.5% in the prior month, marking the highest reading since December. The pickup was largely driven by a slower decline in electricity and gas prices as government energy subsidies were scaled back. Price pressures also strengthened for transport (2.4% vs 1.9% in May), housing (1.0% vs 0.9%), household goods (2.4% vs 2.2%), healthcare (1.3% vs flat reading), and miscellaneous items (0.3% vs 0.2%), while clothing inflation held steady (at 1.7%). Recreation inflation eased (1.5% vs 1.7%), while education stayed in deflation (-6.0% vs -6.1%). On the food side, prices increased 3.2% yoy, slowing from 3.5% in May to the weakest pace since July 2024, as rice prices fell for the second month running. Core inflation, which excludes fresh food, rose to 1.6% from 1.4%, matching market consensus and reaching its highest since March. However, core inflation remained below the Bank of Japan's 2% target for a fifth straight month.
2026-07-23
Japan Inflation Rate Inches Up to 1.5%
Japan’s annual inflation rate edged higher to 1.5% in May 2026 from 1.4% in the previous month, as declines in electricity and gas prices moderated amid the expiration of government subsidies. Price growth also accelerated across several categories, including transport (1.9% vs. 1.5% in April), housing (0.9% vs. 0.8%), clothing (1.7% vs. 1.5%), household goods (2.2% vs. 1.9%), recreation (1.7% vs. 1.3%), and miscellaneous items (0.2% vs. 0.1%). Simultaneously, healthcare costs were unchanged for a second consecutive month while education prices remained in deflation (-6.1% vs -6.1%). On the food side, prices rose by 3.5% yoy, matching April's pace and staying at its slowest rate in 18 months as rice costs fell for the first time since November 2022. Core inflation stood at 1.4%, unchanged from April and in line with market consensus but remained below the central bank’s 2% target for a fourth successive month. On a monthly basis, consumer prices rose 0.4%, up from 0.1% in April.
2026-06-18