FX.co ★ Japan’s National CPI Eases to 1.3% in February, Underscoring Softer Price Momentum

Japan’s National Consumer Price Index (CPI) inflation slowed to 1.3% year-over-year in February 2026, down from 1.5% in January 2026, according to data updated on 23 March 2026. The reading, based on a year-over-year comparison, indicates that consumer prices in February rose at a slightly weaker pace than a month earlier.

The previous figure of 1.5% reflected annual inflation in January versus January a year earlier, while the latest 1.3% marks the change in prices in February against the same month a year ago. The deceleration suggests a modest easing in inflationary pressures in Japan’s economy, which investors and policymakers will be monitoring closely for signals on the trajectory of consumer demand and potential implications for future policy decisions.