Japan: Inflation comes in at highest level since October 2014 in July
August 23, 2022
Consumer prices rose 0.48% from the previous month in July, accelerating from the 0.01% rise seen in June. July's uptick was the sharpest increase in prices since January 2021.
Inflation edged up to 2.6% in July, above June’s 2.4%. July's reading marked the highest inflation rate since October 2014. The upturn was chiefly driven by soaring food and energy prices, as well as a weak yen amid the fallout from the war in Ukraine. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.2% in July (June: 0.9%). Lastly, core inflation ticked up to 2.4% in July, from the previous month's 2.2%.