Japan Measures of Underlying Inflation

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Source: Bank of Japan
Source Link: https://www.boj.or.jp/
Frequency: Monthly
Next Release(s): February 25th, 2026 2:00 AM

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Japan’s measures of underlying inflation in December:
- Trimmed mean CPI inflation eased -0.3 ppts to 1.9% YoY (lowest since December 2024).
- Weighted median CPI inflation eased -0.5 ppts to 0.8 YoY (lowest since October 2024).
- The mode CPI inflation fell was unchanged at 1.4% YoY (lowest since June).
Japan’s measures of underlying inflation in November:
- Trimmed mean CPI inflation was unchanged at 2.2% YoY (highest since June).
- Weighted median CPI inflation eased -0.1 ppts to 1.3% YoY.
- The mode CPI inflation fell -0.2 ppts to 1.4% YoY (lowest since June).
Japan’s measures of underlying inflation in October:
- Trimmed mean CPI inflation was up 0.1 ppt to 2.2% YoY (highest since June).
- Weighted median CPI inflation was up 0.1 ppts to 1.5% YoY (highest since May).
- The mode CPI inflation fell -0.1 ppts to 1.6% YoY (the lowest since July).
Japan’s measures of underlying inflation in September:
- Trimmed mean CPI inflation was up 0.1 ppt to 2.1% YoY (highest since June).
- Weighted median CPI inflation was up 0.4 ppts to 1.4% YoY (highest since June).
- The mode CPI inflation fell -0.2 ppts to 1.7% YoY (the lowest since July).
Japan’s measures of underlying inflation in August:
- Trimmed mean CPI inflation was unchanged at 2.0% YoY (lowest since December 2024).
- Weighted median CPI inflation was unchanged at 1.1% YoY (lowest since December 2024).
- The mode CPI inflation increased 0.4 ppts to 1.9% YoY (highest since March 2024).
- The share of increasing items in the CPI index was 80.1% in August, up from 79.7% in July.
Japan’s measures of underlying inflation in July:
- Trimmed mean CPI inflation ticked down -0.3 ppts to 2.0% YoY (lowest since December 2024).
- Weighted median CPI inflation dropped -0.3 ppts to 1.1% YoY (lowest since December 2024).
- The mode CPI inflation increased 0.1 ppts to 1.5% YoY.
- The share of increasing items in the CPI index was 79.7% in July. down from 80.5% in June.
Japan’s measures of underlying inflation in June:
- Trimmed mean CPI inflation ticked down -0.2 ppts to 2.3% YoY (lowest since March 2025).
- Weighted median CPI inflation dropped -0.3 ppts to 1.4% YoY (lowest since March 2025).
- The mode CPI inflation eased -0.2 ppts again to 1.4% YoY (lowest since March 2025).
- The share of increasing items in the CPI index was 80.5% in June.
Japan’s measures of underlying inflation in May:
- Trimmed mean CPI inflation ticked up 0.1 ppts to 2.5% YoY (highest since January 2024).
- Weighted median CPI inflation was unchanged at 1.7% YoY (highest since January 2024).
- The mode CPI inflation eased -0.2 ppts to 1.6% YoY.
- The share of increasing items in the CPI index was 81.6% in May, the highest since February 2024.
Japan’s measures of underlying inflation in April:
- Trimmed mean CPI inflation was up 0.2 ppts to 2.4% YoY (highest since January 2024).
- Weighted median CPI inflation moved up 0.3 ppts to 1.7% YoY (highest since January 2024).
- The mode CPI inflation increased 0.4 ppts to 1.8% YoY (highest since March 2024).
- The share of increasing items in the CPI index was 80.3% in April, the second highest in a year.
Japan’s measures of underlying inflation in March:
- Trimmed mean CPI inflation was unchanged at 2.2% YoY.
- Weighted median CPI inflation was unchanged at 1.4% YoY.
- The mode CPI inflation increased 0.2 ppts to 1.4% YoY.
- The share of increasing items in the CPI index was 80.5% in March, the highest since April 2024.
Japan’s measures of underlying inflation in February:
- Trimmed mean CPI inflation was unchanged at 2.2% YoY.
- Weighted median CPI inflation was unchanged at 1.4% YoY.
- The mode CPI inflation eased -0.1 ppts to 1.2% YoY.
The BoJ’s measures of underlying inflation in January:
- Trimmed mean CPI inflation accelerated 0.3 ppts to 2.2% YoY.
- Weighted median CPI inflation accelerated 0.4 ppts to 1.4% YoY.
- The mode CPI inflation increased 0.2 ppts to 1.3% YoY.