Monthly inflation · Japan
Japan Inflation Rate MoM
The Japan Inflation Rate MoM is the change in consumer prices in Japan from the previous month (or quarter).
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- JPY · Japanese yen
- Central bank
- The Bank of Japan
Latest figures
The latest release for SEP, published on 22 October 2026, came in at 0.0%, down from 0.1% the time before.
Over the last 12 releases it ranged from -0.2% to 0.4%, averaging 0.1%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 22 Oct 2026 | SEP | 0.0% | – | 0.1% |
| 17 Sep 2026 | AUG | 0.1% | – | 0.5% ® |
| 20 Aug 2026 | JUL | 0.4% | – | 0.3% |
| 18 Jun 2026 | MAY | 0.4% | – | 0.1% |
| 21 May 2026 | APR | 0.1% | – | 0.4% |
| 23 Apr 2026 | MAR | 0.4% | – | -0.2% |
| 23 Mar 2026 | FEB | -0.2% | – | -0.2% |
| 19 Feb 2026 | JAN | -0.2% | – | -0.2% ® |
| 22 Jan 2026 | DEC | -0.1% | – | 0.3% ® |
| 18 Dec 2025 | NOV | 0.4% | – | 0.4% |
| 20 Nov 2025 | OCT | 0.4% | – | 0.1% |
| 23 Oct 2025 | SEP | 0.1% | – | 0.1% |
Why it matters
The monthly change is the freshest reading of price pressure: the yearly rate is the sum of the last twelve monthly changes, so today's monthly figure tells you where the yearly rate is heading.
How it is calculated
the Statistics Bureau and the Cabinet Office prices a fixed basket of goods and services across the country and compares the index with the previous period. Seasonal patterns (sales, holidays) make raw monthly figures jumpy; some countries also publish seasonally adjusted numbers.
Monthly inflation = index(this month) ÷ index(last month) − 1
Annualised ≈ (1 + monthly)¹² − 1What changes mean
- Compare with the same month in earlier years: January and September often have seasonal jumps.
- 0.2% a month is about the 2% a year most central banks aim for.
Higher than expected: A higher figure than expected makes the Bank of Japan more likely to keep rates high or raise them: it tends to support the Japanese yen and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives the Bank of Japan room to cut or hold rates lower: the Japanese yen tends to soften and bond yields to fall.
A short history
Monthly price indexes date from the early 20th century; many countries began publishing them during or after the First World War to adjust wages to the cost of living.
Questions
What is the Japan Inflation Rate MoM?
The Japan Inflation Rate MoM is the change in consumer prices in Japan from the previous month (or quarter).
What was the latest Japan Inflation Rate MoM?
0.0% for SEP, published on 22 October 2026.
When is the next Japan Inflation Rate MoM?
On Friday 20 November 2026 at 23:30 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.