Japan's National Core Consumer Price Index (CPI) reached 2.8% in August 2024, marking a slight increase from the 2.7% recorded in July, according to data updated on September 19, 2024. This year-over-year comparison indicates an incremental rise in the inflationary pressure within the Japanese economy.
The National Core CPI, which excludes fresh food prices, is regarded as a key indicator of underlying inflation and reflects the cost landscape faced by consumers. The slight uptick from July suggests a moderate but ongoing upward movement in prices as Japan continues to navigate its post-pandemic economic recovery.
Analysts are closely monitoring these shifts as they may influence future monetary policy decisions by the Bank of Japan. The central bank has been committing to its ultra-loose monetary policy to encourage economic growth and inflation, with recent CPI figures showing some progress toward their inflation targets.
