$JPIRYY -Japan's Inflation Rate (October/2024)

JPIRYY 2.3%
October/2024
source: Ministry of Internal Affairs & Communications


-The annual inflation rate in Japan fell to 2.3% in October 2024 from 2.5% in the prior month, marking the lowest reading since January.
Electricity prices saw the smallest increase in six months (4.0% vs 15.2% in September), as the effects of the energy subsidy removal in May diminished.
Also, gas prices rose more slowly (3.5% vs 7.7%).
In addition, costs slowed for furniture and household utensils (4.4% vs. 4.8%) and culture (4.3% vs. 4.8%).
Moreover, prices dropped further for communication (-3.5% vs -2.6%) and education (-1.0% vs. -1.0%).
On the other hand, prices edged higher for food (3.5% vs 3.4%) and housing (0.8% vs. 0.7%). Meanwhile, transport prices jumped (0.5% vs. 0.1%) amid faster rises in cost of clothing (2.8% vs 2.6%), healthcare (1.7% vs 1.5%), and miscellaneous items (1.1% vs 0.9%).
The core inflation rate hit a six-month low of 2.3%, down from September's 2.4% but above estimates of 2.2%.
Monthly, the CPI increased by 0.4%, a reversal from a 0.3% fall in September.