FX.co ★ Japan’s Headline CPI Rebounds 0.5% in July, Breaking June Stagnation

Japan’s consumer price index (CPI), not seasonally adjusted, rose 0.5% month-over-month in July 2026, marking a clear rebound from June’s flat reading of 0.0%. The data, updated on 20 August 2026, indicate a renewed uptick in price momentum after a month of stagnation.

The latest figure shows that, on a month-over-month basis, price growth in July accelerated compared with June, when prices showed no change versus May. The July reading suggests that underlying price pressures have strengthened modestly, and will likely draw attention from investors and policymakers monitoring the trajectory of inflation in Japan.