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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

November 22, 2019

Japan's CPI inflation (all items, year-over-year) remained at 0.2 per cent in October 2019.  This is the third consecutive month for year-over-year inflation at 0.2 per cent.

Energy price deflation fell to -2.7 per cent while food price inflation rose to 0.9 per cent. Japan's underlying inflation was 0.6 per cent (all items excluding fresh food and energy), the same year-over-year inflation as was observed last month.

After slowing in the early part of 2019, inflation has re-emerged for Canada and Nova Scotia and Japan in recent months.  However, Japan's inflation remains muted (despite very accommodative monetary policy and Bank of Japan asset purchases).  Although slower in the last three months, Japan's all items CPI has reported positive year-over-year inflation for 37 consecutive months as of October.  This is the longest run of positive inflation for Japan since the early 1990s.


Japan Statistics Bureau - Consumer Price Index

Statistics Canada.  Table  18-10-0004-01   Consumer Price Index, monthly, not seasonally adjusted

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