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Japan Inflation July 2024

Japan: Inflation remains at highest level since October 2023 in July

Inflation was stable at 2.8% for the third month running in July. July’s reading represented the joint-highest inflation rate since October 2023, and marked 28 months of readings above the Bank of Japan’s target. Stronger energy price pressures were offset by softer price pressures for food.

The trend remained steady, with annual average inflation coming in at June’s 2.8% in July. Meanwhile, core inflation was also stable, remaining at June’s 2.7% in July.

Lastly, consumer prices increased 0.36% from the previous month in July, coming in above June’s 0.11% increase.

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