Japan’s annual inflation rose to 1.5% in March 2026 from February’s near four-year low of 1.3%, with transport costs posting the fastest increase in four months (2.1% vs 0.5% in February), amid the effects of the Middle East tensions. Inflation also accelerated for household items (2.7% vs 1.2%), communications (7.0% vs 6.8%), recreation (2.3% vs 2.2%), and miscellaneous goods (0.7% vs 0.6%). Price growth held steady for clothing (at 2.1%) and housing (at 1.0%), but eased for healthcare (0.2% vs 0.4%). Food inflation slowed to a 17-month low (3.6% vs 4.0%), driven by the softest rise in rice prices in two years. Meanwhile, electricity prices (-8.0% vs -8.0) and gas (-5.2% vs -5.1%) fell further, reflecting subsidy effects. Core inflation accelerated to 1.8% from February's 1.6%, but remained below the central bank’s 2% target for the second month. Monthly, the CPI increased 0.4%, reversing a 0.2% decline in January and February and marking the highest reading since January 2025. source: Ministry of Internal Affairs & Communications

Inflation Rate in Japan increased to 1.50 percent in March from 1.30 percent in February of 2026. Inflation Rate in Japan averaged 2.85 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 April of 2026.

Inflation Rate in Japan increased to 1.50 percent in March from 1.30 percent in February of 2026. Inflation Rate in Japan is expected to be 2.20 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
2026-03-23 11:30 PM
Inflation Rate YoY
Feb 1.3% 1.5% 1.3%
2026-04-23 11:30 PM
Inflation Rate YoY
Mar 1.5% 1.3% 1.5%
2026-05-21 11:30 PM
Inflation Rate YoY
Apr 1.5%

Components Last Previous Unit Reference
Food Inflation 3.60 4.00 percent Mar 2026
Goods Inflation 1.50 1.20 percent Mar 2026
Rent Inflation 0.60 0.50 percent Mar 2026
Services Inflation 1.40 1.40 percent Mar 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 112.70 112.20 points Mar 2026
Core Consumer Prices 112.10 111.40 points Mar 2026
Core Inflation Rate YoY 1.80 1.60 percent Mar 2026
CPI Clothes and Footwear 112.40 111.20 points Mar 2026
Inflation Rate Ex-Food and Energy YoY 2.40 2.50 percent Mar 2026
CPI Education 95.90 95.80 points Mar 2026
CPI Food 128.70 129.00 points Mar 2026
CPI Housing Utilities 104.60 104.60 points Mar 2026
CPI Recreation and Culture 116.90 115.80 points Mar 2026
CPI Transportation and Communication 101.50 99.80 points Mar 2026
Inflation Rate YoY 1.50 1.30 percent Mar 2026
Inflation Rate MoM 0.40 -0.20 percent Mar 2026
Tokyo Core CPI YoY 1.70 1.80 percent Mar 2026
Tokyo CPI YoY 1.40 1.50 percent Mar 2026
Tokyo CPI Ex Food and Energy YoY 2.30 2.50 percent Mar 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
1.50 1.30 24.90 -2.50 1958 - 2026 percent Monthly
NSA

News Stream
Japan Inflation Picks Up
Japan’s annual inflation rose to 1.5% in March 2026 from February’s near four-year low of 1.3%, with transport costs posting the fastest increase in four months (2.1% vs 0.5% in February), amid the effects of the Middle East tensions. Inflation also accelerated for household items (2.7% vs 1.2%), communications (7.0% vs 6.8%), recreation (2.3% vs 2.2%), and miscellaneous goods (0.7% vs 0.6%). Price growth held steady for clothing (at 2.1%) and housing (at 1.0%), but eased for healthcare (0.2% vs 0.4%). Food inflation slowed to a 17-month low (3.6% vs 4.0%), driven by the softest rise in rice prices in two years. Meanwhile, electricity prices (-8.0% vs -8.0) and gas (-5.2% vs -5.1%) fell further, reflecting subsidy effects. Core inflation accelerated to 1.8% from February's 1.6%, but remained below the central bank’s 2% target for the second month. Monthly, the CPI increased 0.4%, reversing a 0.2% decline in January and February and marking the highest reading since January 2025.
2026-04-23
Japan Inflation Falls to Near 4-Year Low
Japan’s annual inflation eased to 1.3% in February 2026 from 1.5% in the prior month, the lowest since March 2022. Food inflation remained near a 15-month low (4.0% vs 3.9% in January), driven by the slowest rise in rice prices in 21 months. Price growth also slowed for transport (0.5% vs 0.6%) and clothing (2.1% vs 2.4%). Energy costs stayed negative, with electricity (-8.0% vs -1.7%) and gas (-5.1% vs -2.0%) falling at a steeper rate, reflecting subsidy effects. Education costs fell further (-5.6% vs -5.6%). In contrast, inflation held steady for housing (at 1.0%), healthcare (at 0.4%), and miscellaneous goods (at 0.6%) while accelerating for household items (1.2% vs 0.8%), communications (6.8% vs 6.7%), and recreation (2.2% vs 2.1%). Core inflation slipped to 1.6% from January's 2.0%, the lowest since March 2022, below the central bank’s 2% target for the first time since March 2022. Monthly, the CPI fell 0.2%, matching January's reading and extending declines for the third month.
2026-03-23
Japan Inflation Lowest Since 2022
Japan’s annual inflation eased to 1.5% in January 2026 from 2.1% in the prior month, the lowest since March 2022. Food inflation fell to a 15-month low (3.9% vs 5.1% in December), driven by the slowest rise in rice prices in 18 months. Price growth also eased for transport (0.6% vs 1.9%), healthcare (0.4% vs 0.7%), household items (0.8% vs 1.6%), recreation (2.1% vs 2.3%), and miscellaneous goods (0.6% vs 0.8%). Energy costs stayed negative, with electricity (-1.7% vs -2.3%) and gas (-2.0% vs -2.1%) falling for the second straight month, reflecting subsidy effects. At the same time, education costs declined further (-5.6% vs -5.6%). In contrast, inflation held steady for housing (at 1.0%) while accelerating for clothing (2.4% vs 2.0%) and communications (6.7% vs 6.2% ). Core inflation slipped to 2.0% from 2.4%, the lowest since January 2024, within the central bank’s 2% target. Monthly, CPI fell 0.2%, following a 0.1% drop in December.
2026-02-19