Inflation Japan 2004
Average inflation: 0.0%
Inflation in 2004
Inflation is very low at 0.0%, well below the ECB target.
Peak and Trough
The highest inflation was in November at 0.8%. The lowest inflation was in May at -0.5%.
- Highest month
- November: 0.8%
- Lowest month
- May: -0.5%
- Difference
- 1.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 1.4%. The lowest price increase was in Furnishings, household equipment and maintenance with an average of -3.5%.
- Highest increase
- Transport: 1.4%
- Lowest increase
- Furnishings, household equipment and maintenance: -3.5%
Historical Context
Inflation is 0.5 percentage points higher than the 5-year average of -0.5%.
- 5-year average
- -0.5%
- 10-year average
- 0%
- All-time high (1991)
- 3.3%
- All-time low (2002)
- -0.9%
Trend
Over the period 2002-2004, inflation has remained relatively stable. Compared to 2003, inflation has risen by 0.3 percentage points.
- Change vs. previous year
- +0.3 percentage points
- Largest monthly swing
- November: +1.3 percentage points
ECB Target
Inflation is 2.0 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for ¥100 this year will cost approximately ¥100 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | -0.3% | +0.1 |
| February | 0.0% | +0.2 |
| March | -0.1% | 0.0 |
| April | -0.4% | -0.3 |
| May | -0.5% | -0.3 |
| June | 0.0% | +0.4 |
| July | -0.1% | +0.1 |
| August | -0.2% | +0.1 |
| September | 0.0% | +0.2 |
| October | 0.5% | +0.5 |
| November | 0.8% | +1.3 |
| December | 0.2% | +0.6 |
| Average | 0.0% |
Data source
Data from OECD. Last updated: 13/01/2026.