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August 21, 2020JAPAN CPI INFLATION, JULY 2020
Japan’s CPI inflation (all items, year-over-year) increased to 0.3 per cent in July 2020, the second month for an increase in the inflation rate. Energy prices declined 4.4 per cent year-over-year, while food prices were up 1.8 per cent in July 2020.
Japan's underlying inflation was 0.4 per cent (all items excluding fresh food and energy), unchanged from the previous two months.
During the COVID-19 pandemic, the impacts on prices have been sharply negative in Canada as a large drop in energy (especially petroleum) prices caused a sharp deceleration in year-over-year inflation at both national and provincial levels. Although energy prices are down as well in Japan, the deceleration of Japanese inflation observed from December to May has been similar to periodic slowdowns observed since 2018.
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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