Inflation Japan 2003
Average inflation: -0.3%
Current Inflation
There is deflation with consumer prices declining by 0.3%.
Peak and Trough
The highest inflation was in October at 0.0%. The lowest inflation was in November at -0.5%.
- Highest month
- October: 0.0%
- Lowest month
- November: -0.5%
- Difference
- 0.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Health with an average of 3.4%. The lowest price increase was in Furnishings, household equipment and maintenance with an average of -3.1%.
- Highest increase
- Health: 3.4%
- Lowest increase
- Furnishings, household equipment and maintenance: -3.1%
Historical Context
Current inflation is around the 5-year average of -0.6%.
- 5-year average
- -0.6%
- 10-year average
- 0%
- All-time high (1991)
- 3.3%
- All-time low (2002)
- -0.9%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (+0.6 percentage point).
- Change vs. previous year
- +0.6 percentage points
- Largest monthly swing
- February: +1.4 percentage points
ECB Target
Inflation is 2.3% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for €100 this year will cost approximately €99.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | -0.4% | +1.0 |
| February | -0.2% | +1.4 |
| March | -0.1% | +1.1 |
| April | -0.1% | +1.0 |
| May | -0.2% | +0.7 |
| June | -0.4% | +0.3 |
| July | -0.2% | +0.6 |
| August | -0.3% | +0.6 |
| September | -0.2% | +0.5 |
| October | 0.0% | +0.9 |
| November | -0.5% | -0.1 |
| December | -0.4% | -0.1 |
| Average | -0.3% |
Data source
Data from OECD. Last updated: 13/01/2026.