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For additional information relating to this article, please contact:

Ting Wei GIS Officer
Tel: 902-424-5262Email: Ting.Wei@novascotia.ca

December 01, 2017
JAPAN CPI INFLATION, OCTOBER 2017

Inflation in Japan slowed to 0.2 per cent between October 2016 and October 2017. All items CPI inflation had been 0.7 per cent in September after rising for four months.  October's inflation is Japan's lowest year-over-year rate since the beginning of 2017.  The slowdown appears to be connected with lower food prices.  Excluding food and energy, Japanese prices were stable on a year-over-year basis, after declining for much of the year.  

As oil prices have recovered from the lows of early 2016, energy inflation continues to rise - up 8.6 per cent compared with October 2016. Food prices moderated notably, with a year-over-year decline of 1.3 per cent in October, the first such decline since 2013.

Japanese inflation has been persistently below inflation reported in Canada and Nova Scotia for much of the last two years.  Stabilizing energy prices are a global phenomenon and with it, inflation is returning across many advanced economies.  However, Japan's inflation remains lower than the growth of the CPI in either Canada or Nova Scotia.  All three have reported declining inflation in recent months.

Japan Statistics Bureau - Consumer Price Index

 



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