CPI y/y reflects changes in prices of goods and services purchased by households in Japan. The index estimates price changes from the perspective of the consumer, in the given month compared to the same month of the previous year. The calculation includes goods and services characterizing household spending, while it does not include taxes and social payments.The index is used to measure the country's inflation.
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, the rise in CPI may lead to a more severe economic downturn and fall in the local currency.
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.
Households consumption structure is fixed, and the indicator shows changes in spendings for the fixed consumption, which are connected with price fluctuations. Growth exceeding expectations is seen as a plus for 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) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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