A Reuters poll puts Japan’s October core inflation at 2.3%, a second month above the Bank of Japan (BOJ)’s 2% goal, with the official reading still pending.
The survey of 16 economists covers the nationwide consumer price index (CPI) measure that removes fresh food but retains energy. The forecast compares with an official 2.1% annual increase in September. Reuters reported that the projected October rate would top every annual reading since Dec. 2025. For readers tracking central-bank policy, the forecast puts Japan’s inflation trend against the BOJ’s stated price goal.
The Statistics Bureau of Japan reported September’s 2.1% increase. EconoTimes previously covered September’s return above the BOJ’s 2% goal.
Separate BOJ figures show the Corporate Goods Price Index rose 7.1% from a year earlier in October, compared with 6.8% in September. It also advanced 0.7% from the previous month. The bank listed petroleum and coal products among the contributors to the monthly rise.
At its Oct. 30 meeting, the BOJ kept its guideline for the uncollateralized overnight call rate at about 1.25%. In its October outlook, the bank said risks to prices leaned upward, citing developments in the Middle East, demand related to artificial intelligence and foreign-exchange movements. The outlook also pointed to a strong labor shortage and described wages and prices as rising in tandem. It projected that CPI excluding fresh food would run clearly above 2% in the first half of its forecast period, then move back toward that level in the second half.
Ryosuke Katagi, a market economist at Mizuho Securities, told Reuters he expected food prices excluding rice and prices for daily necessities to remain under pressure because of the situation in Iran. He described the outlook as “continued strong inflation.”
The Statistics Bureau is scheduled to release the October national CPI on Nov. 20.
