CPI of all items Japan 2003-2023
In 2023, the Consumer Price Index (CPI) of all items in Japan stood at 105.6 index points, up from 102.3 points in the previous year. The lowest price level was recorded in 2011 and 2012, with a CPI of 94.5.
What is the CPI?
The CPI is a price index that measures the average price development of a set basket of goods and services purchased by households. Annual or monthly changes in the index are referred to as the inflation rate. Japan recorded an inflation rate of 3.2 percent in 2023, the highest since 1982. Food was the category with the highest price level increase, while fuel, light and water charges recorded a year-on-year decline. Japan’s core inflation, excluding volatile fresh food prices, stood at 3.1 percent.
Producer price indices in Japan
The producer price index (PPI) measures the price development of goods traded between businesses. At the same time, the services producer price index (SPPI) covers the price development of service products that are provided by businesses to other businesses and the central and local governments of Japan. Both the PPI and SSPI rose to a decade high in 2023. Producer price indices can serve as an early indicator of price developments in an economy before prices are passed on to consumers.
