Inflation Japan 2022
Average inflation: 2.5%
Inflation in 2022
Inflation is normal at 2.5%, around the ECB target.
Peak and Trough
The highest inflation was in December at 4.0%. The lowest inflation was in January at 0.5%.
- Highest month
- December: 4.0%
- Lowest month
- January: 0.5%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 4.9%. The lowest price increase was in Health with an average of -0.4%.
- Highest increase
- Food and non-alcoholic beverages: 4.9%
- Lowest increase
- Health: -0.4%
Historical Context
Inflation is 1.8 percentage points higher than the 5-year average of 0.7%. This approaches the highest level since records began (2.7% in 2014).
- 5-year average
- 0.7%
- 10-year average
- 0.8%
- All-time high (2014)
- 2.7%
- All-time low (2009)
- -1.3%
Trend
Over the period 2020-2022, inflation shows an upward trend. Compared to 2021, inflation has risen by 2.8 percentage points.
- Change vs. previous year
- +2.8 percentage points
- Largest monthly swing
- April: +3.6 percentage points
ECB Target
Inflation is 0.5 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for ¥100 this year will cost approximately ¥102 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 0.5% | +1.2 |
| February | 0.9% | +1.4 |
| March | 1.2% | +1.6 |
| April | 2.5% | +3.6 |
| May | 2.5% | +3.3 |
| June | 2.4% | +2.9 |
| July | 2.6% | +2.9 |
| August | 3.0% | +3.4 |
| September | 3.0% | +2.8 |
| October | 3.7% | +3.6 |
| November | 3.8% | +3.2 |
| December | 4.0% | +3.2 |
| Average | 2.5% |
Data source
Data from OECD. Last updated: 26/10/2026.