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.
- Hogen, Kawamoto, and Nakahama (2015) "Core Inflation and the Business Cycle," Bank of Japan Review Series (2015-E-6).
- Shiratsuka (2015) "Performance of Consumer Price Index Core Indicators," Bank of Japan Review Series (2015-E-7).
Research Data
| Date | Title | Data |
|---|---|---|
| Sept. 25, 2024 | Charts | [PDF 18KB] |
| Sept. 25, 2024 | Data | [XLSX 56KB] |
Explanation and Related Materials
Bank of Japan Review Series
- Hogen, Kawamoto, and Nakahama (2015) "Core Inflation and the Business Cycle," Bank of Japan Review Series (2015-E-6).
- Shiratsuka (2015) "Performance of Consumer Price Index Core Indicators," Bank of Japan Review Series (2015-E-7).
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.
- Outline (available in Japanese only) (Link to an external website)
- Data [XLSX] (Link to an external website)
- Explanation [PDF] (available in Japanese only) (Link to an external website)
Notices of Changes
- Feb. 9, 2017
- Changes in the Data Series and Release Schedule of the Research Data "Measures of Underlying Inflation"
Notice
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Inquiries
Economic Assessment and Projection Group,
Economic Research Division, Research and Statistics Department
Tel : +81-3-3279-1111