FX.co ★ Tokyo Core Inflation Cools to 2.0% in January, Easing From December’s 2.3%

Tokyo’s core consumer price index (CPI) eased to 2.0% year-over-year in January 2026, down from 2.3% in December 2025, according to data updated on 29 January 2026. The figure is based on a year-over-year comparison, measuring price changes in January 2026 against those in January 2025.

The previous reading, 2.3% in December 2025, was calculated against December 2024 levels. January’s slowdown in core inflation for Japan’s capital suggests a modest cooling in underlying price pressures at the start of 2026, and will likely be watched closely as an early signal for broader national inflation trends.