The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
June 23, 2023JAPAN CPI INFLATION, MAY 2023 
Japan’s inflation (all items, year-over-year growth in consumer price index) increased by 3.2% in May 2023 compared to the same time last year. This was down from 3.5% CPI inflation as last month and down from 4.4% in January 2023. The gap between Canadian and Japanese inflation has narrowed - because of slowing inflation in Canada and accelerating inflation in Japan.
Japan's underlying inflation (all items excluding fresh food and energy) increased to 4.2%, the fastest increase since 1981.
Japan's energy prices were down 8.2% in May 2023 compared with May 2022. Japan's food inflation increased 8.5% over this period.
Japan's inflation has generally been slower than what has been observed in Canada and Nova Scotia. Japan's rise in inflation came later than the post-pandemic inflation that emerged in Canada, peaking later and at a lower rate. Inflation is now slowing in both Canada and Japan.
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
<--- Return to Archive
