Consumer Price Index s.a. reflects changes in prices of goods and services purchased by households in Japan. The index estimates the price change from the consumer perspective, in the given month compared to the previous month. The calculation includes goods and services, which characterize household spending, and it does not include taxes and social payments. The index is used to measure inflation.
Prices for some goods and services, especially for certain types of fruits and vegetables, are subject to noticeable seasonal fluctuations, which usually have a cyclical nature. An adjustment is applied to avoid seasonal effects and to enable efficient month-over-month CPI comparison.
The weight of each item used in the index calculation is based on the results of the household survey conducted by the Ministry of Internal Affairs and Statistics Bureau. The prices of the items are based on the retail prices surveyed by the retail price statistics survey conducted by the Ministry of Internal Affairs and Statistics Bureau.
Generally CPI is an important way to measure changes in purchasing trends and inflation. The effects on currencies can range in both directions: generally the rise in CPI can lead to a rise in interest rates and a rise in local currencies. However in recession, CPI growth may lead to a more severe economic downturn and fall in the local currency.
Under normal economic development conditions, growth exceeding expectations can be seen as positive for the Japanese yen. Also the results are used as the basis for various economic measures and revisions of pensions.
The chart of the entire available history of the "Japan Consumer Price Index (CPI) s.a. m/m" macroeconomic indicator.
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