Core inflation · Japan
Japan Tokyo CPI Ex Food and Energy YoY
The Japan Tokyo CPI Ex Food and Energy YoY measures the rise in consumer prices in Japan without the most volatile items, usually food and energy (definitions vary by country).
- Importancia
- Medium
- Publicado
- Monthly
- Próxima publicación
- Divisa
- JPY · Japanese yen
- Banco central
- The Bank of Japan
Últimas cifras
El último dato, de OCT, se publicó el 2026-10-29 y fue 2.6%. Está por debajo del consenso de 2.7%. Es menos que 2.9% la vez anterior (revisado).
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.
En las últimas 12 publicaciones osciló entre 1.5% y 3.0%, con una media de 2.2%.
| Publicado | Para | Real | Consenso | Anterior |
|---|---|---|---|---|
| 29 Oct 2026 | OCT | 2.6% | 2.7% | 2.9% ® |
| 1 Oct 2026 | SEP | 3.0% | – | 2.0% |
| 27 Aug 2026 | AUG | 2.0% | – | 1.8% ® |
| 30 Jul 2026 | JUL | 2% | – | 1.9% |
| 25 Jun 2026 | JUN | 1.9% | – | 1.6% |
| 28 May 2026 | MAY | 1.6% | – | 1.9% ® |
| 30 Apr 2026 | APR | 1.5% | – | 1.7% ® |
| 30 Mar 2026 | MAR | 2.3% | – | 2.5% |
| 26 Feb 2026 | FEB | 1.8% | – | 2% |
| 29 Jan 2026 | JAN | 2% | – | 2.3% ® |
| 25 Dec 2025 | DEC | 2.6% | – | 2.8% |
| 27 Nov 2025 | NOV | 2.8% | – | 2.8% |
Por qué importa
Food and energy prices jump with harvests and oil, then fall back. The core rate shows the underlying trend that the Bank of Japan can actually influence, so it often moves markets more than the headline. Services inflation, driven by wages, is the stickiest part.
Cómo se calcula
the Statistics Bureau and the Cabinet Office takes the consumer price index basket, removes the excluded items and re-weights the rest; the change is measured month on month and against the same month a year earlier.
Core inflation (yoy) = core index ÷ core index 12 months ago − 1Qué significan los cambios
- A core rate falling towards the target lets the Bank of Japan ease; a stubborn core keeps rates high.
- Monthly core changes of 0.2% compound to about 2.4% a year; 0.3% to about 3.7%.
- Markets compare the figure with the consensus to one decimal; a 0.1-point surprise moves currencies.
Mayor de lo esperado: 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.
Menor de lo esperado: 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.
Una breve historia
Economists Robert Gordon and others popularised excluding food and energy in the 1970s, when oil shocks made the headline rate misleading; most central banks now publish or watch a core measure.
Preguntas
What is the Japan Tokyo CPI Ex Food and Energy YoY?
The Japan Tokyo CPI Ex Food and Energy YoY measures the rise in consumer prices in Japan without the most volatile items, usually food and energy (definitions vary by country).
What was the latest Japan Tokyo CPI Ex Food and Energy YoY?
2.6% for OCT, published on 29 October 2026 (consensus 2.7%, previous 2.9%).
When is the next Japan Tokyo CPI Ex Food and Energy YoY?
On Thursday 26 November 2026 at 23:30 UTC.
Solo contenido educativo, no asesoramiento de inversión. Las cifras son los resultados publicados según los registra nuestro calendario; las reacciones del mercado descritas son típicas, no garantizadas.