Makrognosis

Japan Core Inflation Rate

MonthlyNot seasonally adjustedCode JP.CPICORE.M.NSA

Latest (y/y)2.2%September 2026
Previous (y/y)1.7%August 2026
Level102.3September 2026

Japan Core Inflation Rate was up 2.2% year on year in September 2026, compared with 1.7% in August 2026.

The level stood at 102.3 (index 2025=100).

Among the 50 economies Makrognosis covers on this measure, it is the 12th lowest.

Over the past ten years it has ranged from −1.1% (Dec 2020) to 4.0% (Dec 2022), averaging 1.4%.

Japan Core Inflation Rate, annual % change, Jan 1997 – Sep 2026−4%−2%0%2%4%200020052010201520202025Robomacro
Japan Core Inflation Rate, annual % change, Jan 1997 – Sep 2026. Source: Statistics Bureau of Japan (e-Stat).
Japan Core Inflation Rate, level (index 2025=100)859095100200020052010201520202025Robomacro
Japan Core Inflation Rate, level (index 2025=100).

Showing the full history (downsampled for display). Open the interactive chart to zoom and switch transforms.

Recent data

PeriodValueY/Y %
September 2026102.32.2
August 2026102.01.7
July 2026102.11.8
June 2026101.71.5
May 2026101.61.5
April 2026101.11.4
March 2026100.71.7
February 2026100.21.5
January 2026100.70.7
December 2025100.92.3
November 2025101.13.0
October 2025100.73.0
September 2025100.12.9
August 2025100.32.7
July 2025100.33.1
June 2025100.23.4
May 2025100.13.6
April 202599.703.5
March 202599.003.1
February 202598.703.0
January 2025100.03.1
December 202498.603.0
November 202498.202.6
October 202497.802.2

Last 24 observations. The full history (369 observations) is available through the API.

Get Japan Core Inflation Rate in your code or spreadsheet

One guessable code, agency-direct, updated on release. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/JP.CPICORE.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/JP.CPICORE.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
Get a free API key → · API docs

About this series

Latest observationSeptember 2026
First observationJanuary 1996
Observations369
FrequencyMonthly
Unitsindex 2025=100
AdjustmentNot seasonally adjusted
10-year high4.0% (Dec 2022)
10-year low−1.1% (Dec 2020)
10-year average1.4%
Source agencyStatistics Bureau of Japan (e-Stat)
Makrognosis codeJP.CPICORE.M.NSA

Core Inflation Rate: how Japan compares

#EconomyPeriodLatest
1ArgentinaSep 202631.6%
2TurkeyOct 202628.5%
3RomaniaSep 20267.0%
4IcelandSep 20266.8%
5KosovoSep 20266.2%
34NorwayOct 20262.7%
35MaltaOct 20262.4%
36AlbaniaSep 20262.4%
37GermanyOct 20262.3%
38ItalyOct 20262.3%
39JapanSep 20262.2%
40SingaporeSep 20262.0%
41LuxembourgOct 20262.0%
42FranceOct 20262.0%
43SloveniaOct 20261.9%
44MalaysiaSep 20261.7%
45DenmarkOct 20261.7%

Core Inflation Rate by country: all 50 economies ranked →

Other Japan indicators

Japan GDP (Gross Domestic Product)Japan Nominal GDP, expenditure side, current prices, SA at annual rate (Cabinet Office QE)Japan CPI: All items (2025=100)Japan Inflation Rate (CPI)Japan Unemployment RateJapan Unemployment Rate (not seasonally adjusted)Japan Credit Rating & Sovereign Risk ScoreJapan Industrial ProductionJapan Producer Price Inflation (PPI)Japan Current Account Balance (BoP, monthly)Japan Trade Balance: Goods & ServicesJapan Merchandise Exports, BoP basis (Goods Credit, BPM6)Japan Merchandise Imports, BoP basis (Goods Debit, BPM6)Japan EmploymentJapan M2 Money StockJapan Average Contract Interest Rate on Outstanding Loans and Discounts, Total (Domestically Licensed Banks)

FAQ

What is the current core Inflation Rate in Japan?
The latest reading is 2.2% year on year for September 2026, published by Statistics Bureau of Japan (e-Stat).
Where does this data come from?
It is collected directly from Statistics Bureau of Japan (e-Stat) and is available through the Makrognosis API under the code JP.CPICORE.M.NSA.

Last updated 2026-11-04. Source: Statistics Bureau of Japan (e-Stat). Original title: “Japan Core CPI: ex fresh food (2025=100)”.