Japan CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Bank of Japan watches when setting interest rates.
Actual
3.1%
Forecast
3.3%
Previous
3.3%
Source: Ministry of Internal Affairs & Communications. Figures as released; revisions appear in the next print.
Japan Inflation Rate (CPI) for July 2025 came in at 3.1% versus 3.3% expected (previous 3.3%), below forecast, which was negative for the JPY.
What it meant for the Japanese Yen
The actual landed below the 3.3% forecast (0.2 below expectations). A reading above forecast is generally bullish for the JPY, and below forecast bearish. On this release the read was negative for the JPY.
New to this release? See what Japan Inflation Rate (CPI) measures, the next release and its full history.