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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

April 19, 2024

Japan’s inflation (all items, year-over-year growth in consumer price index) increased by 2.7% in March 2024. Japan's underlying inflation (all items excluding fresh food and energy) increased to 2.9%. 

Japan's energy prices were down 0.6% in March 2024 compared with March 2023. Japan's food inflation increased 4.8% over this period. 

Japan's inflation was highest at the end of 2022 and the beginning of 2023, but was lower than inflation in Canada. Inflation in Canada and Nova Scotia started coming down sooner than in Japan and in the spring and summer of 2023, inflation in Canada and Nova Scotia was lower than inflation in Japan. In recent months, the inflation rate in Japan has come down more than in Canada.


Sources: Japan Statistics Bureau - Consumer Price Index; Statistics Canada.  Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjustedTable 18-10-0005-01 Consumer Price Index, annual average, not seasonally adjusted

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