Japan’s National Consumer Price Index (CPI) growth slowed markedly in the latest reading, with the month‑over‑month figure easing to 0.1% as of the data update on 17 September 2026. This compares with a 0.4% month‑over‑month increase in July 2026, indicating a clear moderation in price momentum across the economy.
The comparison is based on monthly changes: the current 0.1% reflects the change in prices for the latest reported month versus the previous month, while the prior 0.4% figure captured the change in July relative to June. The deceleration suggests that short‑term inflationary pressures in Japan have weakened, a development that will be closely watched by markets and policymakers assessing the trajectory of prices and the broader economic outlook.
