Inflation rate in Japan
Annual inflation in Japan was 2.1% in September 2026: consumer prices compared with the same month a year earlier. The month before, it was 1.9%.
Inflation by month in Japan
Monthly figures: national statistics compiled by the Bank for International Settlements (consumer prices, change on a year earlier).
Inflation by year in Japan
| Year | Inflation |
|---|---|
| 2025 | 3.2% |
| 2024 | 2.7% |
| 2023 | 3.3% |
| 2022 | 2.5% |
| 2021 | -0.2% |
| 2020 | -0.0% |
| 2019 | 0.5% |
| 2018 | 1.0% |
| 2017 | 0.5% |
| 2016 | -0.1% |
| 2015 | 0.8% |
| 2014 | 2.8% |
| 2013 | 0.3% |
| 2012 | -0.0% |
| 2011 | -0.3% |
| 2010 | -0.7% |
| 2009 | -1.4% |
| 2008 | 1.4% |
| 2007 | 0.1% |
| 2006 | 0.2% |
| 2005 | -0.3% |
| 2004 | -0.0% |
| 2003 | -0.3% |
| 2002 | -0.9% |
| 2001 | -0.7% |
Yearly figures: World Bank, inflation, consumer prices (annual %).
The real interest rate is the central bank’s policy rate minus the latest inflation rate: a plain difference, not a forecast.
Frequently asked questions
What is the inflation rate in Japan?
Annual inflation in Japan was 2.1% in September 2026 (consumer prices compared with a year earlier).
What was the inflation rate in Japan in 2025?
Inflation in Japan was 3.2% in 2025 (World Bank, consumer prices, annual average).
What was the inflation rate in Japan in 2020?
Inflation in Japan was -0.0% in 2020 (World Bank, consumer prices, annual average).
What was the inflation rate in Japan in 2015?
Inflation in Japan was 0.8% in 2015 (World Bank, consumer prices, annual average).
What is the real interest rate in Japan?
The policy rate is 1.25% and inflation 2.1%, so the real interest rate is about -0.8%.
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