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November 19, 2021JAPAN CPI INFLATION, OCTOBER 2021 
Japan's CPI has been rebased to 2020, resulting a restatement of previous inflation history.
Japan’s CPI inflation (all items, year-over-year) increased 0.1% in October 2021 compared to October 2020.
Japan's underlying inflation (all items excluding fresh food and energy) decreased 0.7%.
Japan's energy prices have rebounded from their declines in 2020, rising 11.4% from October 2020 to October 2021. Japan's food prices rose 0.4% over this period.
In 2020, the COVID-19 pandemic combined with low oil prices to reduce price growth. As economic conditions and oil prices normalized in 2021, there has been a rebound in inflation for Canada and Nova Scotia (which is more exposed to oil price fluctuations). Japan, however, experienced deflationary at a later time than Canada did and consequently is not currently exhibiting the same rebounding inflation from a low base period.
Sources: Japan Statistics Bureau - Consumer Price Index; Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted; Table 18-10-0005-01 Consumer Price Index, annual average, not seasonally adjusted
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