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Main Indicator: Tokyo Consumer Price Index y/y
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| 1.4% | 1.2% | 1.3% | N/A | ||
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For September
Tokyo CPI Ex Food y/y: 1.7%, forecast 1.4%, pr. 1.5% (Aug), 1.6% (Jul)
Tokyo CPI m/m: 0.3%, pr. 0.1% (Aug), -0.1% (Jul), 0.3% (Jun)
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Table of Past Data
| 12/27 | 1/24 | 2/28 | 3/27 | 4/24 | 5/29 | 6/26 | 7/24 | 8/28 | 9/25 | ||
| Actual | 0.4% | 0.2% | 0.4% | 0.6% | 0.6% | 0.9% | 1.5% | 1.6% | 1.3% | 1.4% | |
| Forecast | 0.3% | 0.3% | 0.5% | 0.5% | 0.5% | 0.8% | 1.2% | 1.8% | 1.6% | 1.2% | |
| Previous | 0.3% | 0.4% | 0.2% | 0.4% | 0.6% | 0.6% | 0.9% | 1.5% | 1.6% | 1.3% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Secondary Indicator: Consumer Price Index y/y
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| 2.1% | 2.1% | 2.3% | N/A | ||
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National CPI For Aug
CPI Ex. Food y/y: 2.4%, forecast 2.4%, pr. 2.4% (Jul), 1.9% (Jun),
CPI m/m: 0.3%, pr. 0.2% (Jul), 0.5% (Jun), 0.8% (May), -0.1% (Apr)
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Table of Past Data
| 12/27 | 1/24 | 2/28 | 3/27 | 4/24 | 5/29 | 6/26 | 7/24 | 8/28 | 9/25 | ||
| Actual | 0.6% | 0.7% | 0.7% | 1.0% | 1.2% | 0.8% | 1.3% | 2.0% | 2.3% | 2.1% | |
| Forecast | 0.5% | 0.7% | 0.7% | 0.9% | 1.2% | 0.9% | 1.3% | 1.9% | 2.2% | 2.1% | |
| Previous | 0.3% | 0.6% | 0.7% | 0.7% | 1.0% | 1.2% | 0.8% | 1.3% | 2.0% | 2.3% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Past Releases
Tokyo Consumer Price Index y/y
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Actual | Forecast | Previous | Revised Form | |
| 1.3% | 1.6% | 1.6% | N/A | ||
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For August
Tokyo CPI Ex Food y/y: 1.5%, forecast 1.7%, pr. 1.6%, 1.3% (Jun)
Tokyo CPI m/m: 0.1%, pr. -0.1% (Jul), 0.3% (Jun), 0.5% (May)
Consumer prices in the Tokyo area were up 1.3% in August compared to a year ago. That was below forecasts of no change from the 1.6% seen in July. Excluding food, prices cooled to a 1.5% rate. Excluding both food and energy, prices rose a slower 0.2% on the year. The lower inflation data stands in high contrast to the National CPI which saw prices climb higher than expected in July. The Tokyo index functions as a leading index since its data is more relevant by one month. Taking a look at the month change data it can be seen that prices were all higher than their totals in July. |
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Actual | Forecast | Previous | Revised Form | |
| 2.3% | 2.2% | 2.0% | N/A | ||
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National CPI For July
CPI Ex. Food y/y: 2.4%, forecast 2.3%, pr. 1.9%, 1.5% (May), 0.9% (Apr)
CPI m/m: 0.2%, pr. 0.5% (Jun), 0.8% (May), -0.1% (Apr)
National consumer prices rose above 2% in July for the first time in a decade. Headline inflation was up 2.3% compared to a year ago. Core prices, which exclude fresh food was rose to 2.4% from 1.9% in July. Taking energy prices, along with food, out of the CPI brings the annual pace down to 0.2%, which was also above expectations. The government is planning a spending program to help Japanese businesses and individuals to help cope. The data is from July, which saw high inflation around the globe, and in monthly terms inflation was up 0.2%, lower than June's 0.2%. The Tokyo CPI which leads the national CPI by one month, came in lower than expected. |
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Actual | Forecast | Previous | Revised Form | |
| 1.6% | 1.8% | 1.5% | N/A | ||
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For July
Tokyo CPI Ex Food y/y: 1.6%, forecast 1.6%, pr. 1.3% (Jun), 0.9% (May)
Tokyo CPI m/m: -0.1%, pr. 0.3% (Jun), 0.5% (May)
Consumer prices in the Tokyo area were up 1.6% for July, an increase from last month, but below expectations of a 1.8% gain. Excluding food and energy prices were up 0.3% on the year, matching June's figure. On the month, prices excluding both food and energy were actually down 0.2%. The price of food for instance fell 0.5% in July compared to June and clothes and footwear were down 3.9%. Fuel was up 1.9% on the month (5.8% y/y) while transportation increased 1%. |
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Actual | Forecast | Previous | Revised Form | |
| 2.0% | 1.9% | 1.3% | N/A | ||
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National CPI For June
CPI Ex. Food y/y: 1.9%, forecast 1.9%, pr. 1.5% (May), 0.9% (Apr)
CPI m/m: 0.5%, pr. 0.8% (May), -0.1% (Apr)
Consumer inflation in Japan for June rose 2% compared to the level seen last year. It was the fastest pace in 10 years. Inflation excluding food was up 1.9%, compared to May's 1.5%. Looking at inflation minus both food and energy, prices were up 0.1%. It's easy to see who the real culprit is consumers are paying more for gas and electricity. The effect of rising prices has had a clear impact on household spending which has been negative for several months now. Weaker spending filters into all other parts of the economy and with falling exports as a result of a global slowdown, the Japanese economy may be heading for negative growth in the second quarter of 2008.
A second report today showed that the prices companies paid for services were up 1.2% for June compared to a year ago, the fastest pace this year. That means companies profits are being squeezed just as sales are falling as a result of weaker consumer spending.
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Actual | Forecast | Previous | Revised Form | |
| 1.5% | 1.2% | 0.9% | N/A | ||
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For June
Tokyo CPI Ex Food y/y: 1.3%, forecast 1.1%, pr. 0.9%
Tokyo CPI m/m: 0.3%, pr. 0.5%
Consumer inflation in the Tokyo area increased 1.5% in June compared to a year ago. Core inflation, excluding food was up 1.3%, and taking both food and energy from the equation prices were up 0.3%. Both of those figures are big jumps from the previous month's results and beat economists forecasts. On the month, the figures cooled somewhat. Higher inflation is putting the clamps on consumer spending while increasing the operating costs to firms thereby squeezing profits. The economy may be set to enter a period "stagflation", a time of slow growth but higher inflation. |
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Actual | Forecast | Previous | Revised Form | |
| 1.3% | 1.3% | 0.8% | N/A | ||
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National CPI For May
CPI Ex. Food y/y: 1.5%, forecast 1.4%, pr. 0.9%
CPI m/m: 0.8%, pr. -0.1%
The national core inflation rate, which excludes food, rose 1.5% on the year in May, compared to April's 0.9%. This rise beat out forecasts. The rise is not a result of increased economic expansion, but rather the higher costs of global oil and commodity prices. Consumer spending has already declined the last 3 months which has cut into sales of firms. Lower sales plus higher costs for production means companies profits are being squeezed. The whole scenario is gloomy, and leaves the Bank of Japan little room to maneuver in order to limit inflation. Hiking rates will only add extra burden to consumers and firms, slowing growth. |
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Actual | Forecast | Previous | Revised Form | |
| 0.9% | 0.8% | 0.6% | N/A | ||
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For May
Tokyo CPI Ex Food y/y: 0.9%, forecast 0.9%, pr. 0.7%
Consumer prices in the Tokyo area were up 0.9% for the month of May compared to the same time last year. This was a jump from April's 0.6% reading. Excluding food, prices were up 0.9%, the same amount as the headline rate. Excluding energy and food prices rose 0.1%, higher than forecast. In the national rate, which lags the Tokyo CPI by one month, core prices were down 0.1%. The data suggests that inflation may pick up for May in the national measure as higher energy costs, propelled by record high oil prices, continue to be digested by the economy. On the month, inflation excluding food and energy rose 0.3%, with the headline rate at 0.5%. Increases to transportation and communication (2.0%), clothes (0.8%), housing (0.3%) and food (0.4%) were the main drivers of the price increase. |
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Actual | Forecast | Previous | Revised Form | |
| 0.8% | 0.9% | 1.2% | N/A | ||
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National CPI For April
CPI Ex. Food y/y: 0.9%, forecast 1.0%, pr. 1.2%
The measure of national consumer inflation, which lags the Tokyo index by 1 month, came in lower than expected for April. The headline annual inflation rate cooled from 1.2% to 0.8%. Excluding food, the annual rate was actually higher meaning food prices fell. Taking both food and energy costs out of the equation prices were actually 0.1% lower for April compared to the same time last year. The data suggests the main pressure on prices this past year continues to be energy, which is no surprise as oil continues to hit record highs. On the month, prices were down -0.1% and the core rate that excludes food and energy was up 0.2%. For the Tokyo CPI which measures price changes for the May period, headline annual inflation increased to 0.9% from 0.6% in April. Prices excluding food and energy rose 0.1%, higher than forecasts. Though national inflation cooled, this result may prove temporary if it follows the lead of the Tokyo index next month. |
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Actual | Forecast | Previous | Revised Form | |
| 0.6% | 0.5% | 0.6% | N/A | ||
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Tokyo CPI for April
Tokyo CPI ex Fresh Food y/y: 0.7%, forecast 0.5%, pr 0.6% (Mar), 0.4% (Feb)
The Tokyo CPI, which acts as a leading indicator for the national measure, as its data is for one month in advance, showed inflation at 0.6%, matching the level in March, and higher than expectations. Core CPI, excluding fresh food, was up 0.7%, also higher than expectations. Taking out energy, in addition to food, from the equation prices were flat, and lower than the consensus forecast. |
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Actual | Forecast | Previous | Revised Form | |
| 1.2% | 1.2% | 1.0% | N/A | ||
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National CPI for March
CPI ex. Fresh Food y/y: 1.2, forecast 1.2%, pr 1.0% (Feb), 0.8% (Jan)
Both Japan's national headline consumer price index and core measure, which excludes fresh food were up 1.2%. The rise in the core value is the biggest increase in almost 10 years. Looking deeper into the data, excluding both food and energy from CPI, inflation was 0.1%, slightly higher than expectations, and shows that energy costs made up a bulk of the increase. |
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Actual | Forecast | Previous | Revised Form | |
| 0.6% | 0.5% | 0.4% | N/A | ||
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Tokyo CPI for March
Tokyo CPI ex Fresh Food y/y: 0.6%, forecast 0.5%, pr. 0.4% (Feb)
Tokyo's March Consumer Prices rose 0.6% on the year, beating expectations. Core Prices also surprised on the upside. Gains were led by increases in energy and commodities. The Tokyo indicator acts as a leading index for the rest of the country, which saw its February CPI increase a full 1% on the year. Inflation is creeping up just as consumers are spending less, and the job market begins to slacken as a result of condition in the global marketplace. |
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Actual | Forecast | Previous | Revised Form | |
| 1.0% | 0.9% | 0.7% | N/A | ||
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National CPI for February
CPI ex. Fresh Food y/y: 1.0%, forecast 0.9%, pr. 0.8% (Jan)
Pre-Release: Increasing energy prices are expected to push up inflation for the February period of National CPI. The last three months have seen overall inflation at 0.6% and above, while "core" prices are remaining flat. Post-Release: Higher energy and food prices pushed up Japnese national CPI to a 10 year high of 1% year-over-year. Core prices, excluding food was up 1%, and core prices excluding both food and energy remained negative at -0.1%. In other releasestoday, household spending was flat and the job market weakened. The headline CPI data beat expecations, and the CPI ex. Fresh Food had its 5th straight month of gains. In Tokyo, the Tokyo-CPI for March showed a rise of 0.6% on the year. The rise there was mostly led by energy and commodity prices, which are liekly to hurt weak consumer sentiment and spending. |
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Actual | Forecast | Previous | Revised Form | |
| 0.4% | 0.5% | 0.2% | N/A | ||
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Tokyo CPI for February
Tokyo CPI ex Fresh Food y/y: 0.4%, forecast 0.5%, pr. 0.4%
Tokyo CPI m/m: -0.3% Consumer prices for February increased 0.4% compared to last year, an increase over last month's figure. Most of the increase comes as a result of energy costs. CPI excluding Food was up 0.4%, while CPI excluding Food and Energy saw a 0.1% decrease, a difference of 0.5%. As long as "core" CPI stays flat or is negative the Bank of Japan will not move to increase rates from its low benchmark rate of 0.5%. Looking deeper at the data, furniture (-2.9%) and clothing (-1.2) saw declines while transportation (1.6%) and education (1.1) increased compared to last year. |
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Actual | Forecast | Previous | Revised Form | |
| 0.7% | 0.7% | 0.7% | N/A | ||
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National CPI for January
CPI ex. Fresh Food y/y: 0.8%, forecast 0.9%, pr. 0.8%
Inflation for all of Japan in January matched December's value of a 0.7% change compared to last year. Energy prices were the primary contributor as taking food out of the CPI resulted in a 0.8% increase to prices, while excluding both food and energy resulted in a 0.1% decline. It is a similar story in the Tokyo only CPI measure which looks at prices one month ahead of the National CPI. |
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Actual | Forecast | Previous | Revised Form | |
| 0.2% | 0.3% | 0.4% | N/A | ||
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For January.
In Tokyo, CPI y/y, excluding food, rose 0.4%, edging up from December's figure. The rise was the biggest since April 1998. Overall CPI for december rose 0.2%, lower than in December. Tokyo CPI y/y, excluding food and energy, showed a flat reading. |
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Actual | Forecast | Previous | Revised Form | |
| 0.7% | 0.7% | 0.6% | N/A | ||
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National CPI for December.
Core CPI y/y, excluding fresh food, in December rose 0.8%, doubling November's figure. It was the biggest gain since March 1998. Only in October did this measure of CPI turn positive, after 10 months of declines. If energy costs are excluded from the equation, CPI fell 0.1%, teh 24th straight month of declines. Gasoline prices were up 16.4% during December. |
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Actual | Forecast | Previous | Revised Form | |
| 0.4% | 0.3% | 0.3% | N/A | ||
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For December. Tokyo CPI Ex Fresh Food y/y: 0.3%, forecast 0.3%, pr. 0.1% Tokyo CPI Ex Food & Energy y/y: -0.1%, forecast 0.0, pr. -0.1%. |
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Actual | Forecast | Previous | Revised Form | |
| 0.6% | 0.5% | 0.3% | N/A | ||
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National CPI for November. Official Release from The Ministry of Internal Affairs and Communications CPI Ex. Fresh Food y/y: 0.4%, forecast 0.3%, pr. 0.1%. CPI Ex. Food & Energy y/y: -0.1%, forecast -0.2%, pr. -0.3%. The national consumer price index rose 0.6%, and 0.4% if food prices where taken out of the equation. This is the second month in a row that the "core" figure has been positive. However, if energy prices are also excluded, CPI declined 0.1% meaning that most of the headline number was due to higher prices for gasoline and energy. |
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