Japan’s national consumer price index (CPI) rose 0.4% month-over-month in July 2026, a slight acceleration from the 0.3% increase recorded in June 2026. The latest data, updated on 20 August 2026, indicate a modest pickup in price momentum on a month-over-month basis.
The comparison is made against the prior month’s performance: the July “actual” figure reflects the change from June to July, while the June “previous” figure measured the change from May to June. The move from 0.3% to 0.4% suggests a gradual firming in consumer prices, which investors and policymakers will watch closely for signals on the trajectory of inflation and potential monetary policy implications.
