Japan’s consumer prices rose 2.1% year over year in September, with all three reported inflation measures accelerating, as the Bank of Japan (BOJ) prepares for its next policy meeting later this month.
The Statistics Bureau of Japan reported the all-items consumer price index (CPI) at 102.2 on a 2025=100 basis. It increased 0.4% from August after seasonal adjustment, while the annual rate was up from 1.9% in August. The bureau began using the 2025 base for nationwide CPI data in July, replacing the 2020 base.
The index excluding fresh food stood at 102.3, up 2.1% year over year after a 1.7% rise in August. It advanced 0.5% from August on a seasonally adjusted basis. The measure excluding both fresh food and energy reached 102.8, rising 2.4% annually, compared with 1.9% in August; it also gained 0.5% month over month after seasonal adjustment.
The BOJ’s official inflation target is 2%. Reuters reported that the fresh-food-excluded rate matched the median market forecast and exceeded that target for the first time in nine months.
Reuters said energy costs tied to the Middle East conflict, higher import prices associated with the weak yen and demand from AI-related activity added to price pressure. It reported that those forces limited the impact of government fuel subsidies.
September’s figures follow EconoTimes’ earlier coverage of Japan’s core inflation reaching 2.1%. The BOJ’s next policy meeting is scheduled for Oct. 29-30. The next nationwide CPI release, covering October, is due Nov. 20.
