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Measures of Underlying Inflation

Measures of underlying inflation (the so-called core inflation measures) -- obtained by removing transitory disturbances from the actual movements observed in the consumer prices -- are frequently used for inflation analysis. Instead of focusing on a specific core inflation measure, a comprehensive examination of various core inflation measures enables us to identify the trends of price movements in a more accurate manner.

The Bank of Japan's Research and Statistics Department releases the following four estimates in line with the monthly release of the official CPI for Japan: the diffusion index of increasing/decreasing items; the trimmed mean; the mode; and the weighted median.

These estimates are, in principle, released at 2:00 p.m., two business days after the release of the official CPI for Japan.

For more information on the estimation procedures and characteristics of these core inflation measures, please see the Bank of Japan Review Series below.

Research Data

Table : Research Data
Date Title Data
Oct.  3, 2017 Charts  [PDF 74KB]
Oct.  3, 2017 Data  [XLSX 46KB]

Explanation and Related Materials

Bank of Japan Review Series

Adjustment for Changes in the Consumption Tax Rate

The consumption tax adjusted CPI is released as reference data by the Statistics Bureau of the Ministry of Internal Affairs and Communications on the following external links.

Notices of Changes

Feb.  9, 2017
Changes in the Data Series and Release Schedule of the Research Data "Measures of Underlying Inflation" 

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Inquiries

Economic Assessment and Projection Group,
Economic Research Division, Research and Statistics Department

Tel : +81-3-3279-1111