Friday, Jan. 30, 2026
0830 JST (2330 GMT/1830 EST Thursday, Jan. 29) The Ministry of Internal Affairs and Communications releases January Tokyo CPI.
Mace News median: total CPI +1.8% y/y (range: +1.6% to +1.9%) vs. Dec +2.0%; core CPI (ex-fresh food) +2.2% (range: +2.1% to +2.2%) vs. Dec +2.3%; core-core CPI (ex-fresh food, energy) +2.6% (range: +2.4% to +2.6%) vs. Dec +2.6%
TOKYO (MaceNews) – The Tokyo consumer price index, a leading indicator of nationwide inflation trends, is expected to decelerate further on the year in January, with two of the three key measures easing from the previous month as slower food and energy prices help bring inflation closer to, or even below, the Bank of Japan’s 2% target.
The expected slowdown in inflation is driven mainly by food prices, including declines in fresh food and rice prices. Energy prices fell following cuts in electricity and gas charges, while the abolition of the temporary gasoline tax surcharge pushed gasoline prices sharply lower. In addition, there were signs that prices at supermarkets and other retailers softened during the month.
The core measure (excluding fresh food) is forecast to rise 2.2% on the year in January, easing from 2.3% in December, while the total CPI is seen slipping below the 2% mark to 1.8%, down from a 2.0% increase a month earlier. The core-core index (excluding fresh food and energy) is projected to be unchanged at a 2.6% rise. All three measures have remained below 3% since June after retreating from earlier peaks.
AloJapan.com