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February 21, 2025JAPAN CPI INFLATION, JANUARY 2025 Year-over-year (January 2025 vs January 2024)
Japan’s inflation (all items, year-over-year growth in consumer price index) accelerated to 4.0% in January 2025, the highest it has been since January 2023. Japan's underlying inflation (all items excluding fresh food and energy) was up to 2.6%.
Japan's energy prices were up 10.8% in January 2025 compared with January 2024. Japan's food inflation rate was up 7.8% over this period.
Japan's inflation was highest at the end of 2022 and the beginning of 2023, but was lower than inflation in Canada. With Canada's and Nova Scotia's inflation rates decelerating faster in 2024, inflation has been higher in Japan than in Nova Scotia for the past seven months and reached 2022 levels.
Sources: Japan Statistics Bureau - Consumer Price Index; Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted; Table 18-10-0005-01 Consumer Price Index, annual average, not seasonally adjusted
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