Indicators for Core CPI

Core inflation indicators -- obtained by removing transitory disturbances and institutional factors from the actual movements observed in the consumer prices -- are frequently used for inflation analysis. Such "core indicators" are essential for identifying the underlying inflation rate, together with other indicators including the output gap, labor market tightness, inflation expectations, and wage growth rate. This page presents the Bank of Japan's Research and Statistics Department staff estimates for core indicators, including (i) consumer price indices that exclude "institutional factors"(Note 1), as well as (ii) indicators based on the distribution of price changes across items (the trimmed mean; the weighted median; the mode; and the diffusion index of increasing/decreasing items)(Note 2). Data are, in principle, released at 2:00 p.m., two business days after the release of the official CPI for Japan. Charts and data available here are provided to inform some of the Bank of Japan's research and analysis to a wide range of users with interests in economic and financial developments.Please note that these charts and data are subject to unscheduled changes, revisions, and terminations.Please contact the Bank of Japan's Research and Statistics Department to request permission when reproducing or copying the content of these charts and data for commercial purposes.Please credit the source when quoting, reproducing, or copying the content of these charts and data. Economic Assessment and Projection Group,Economic Research Division, Research and Statistics Department