Published monthly by Japan Macro Advisors. Updated to the month of November/December (published on December 27th, 2016)
Recent data trend
The results from the latest trimmed CPI inflation indicate that the mild dis-inflationary trend has continued and the core year on year inflation is now in negative territory. The nationwide trimmed CPI for November 2016 was -0.09% YoY, down from 0.01% YoY in October. The trimmed CPI inflation for the Tokyo area declined slightly from -0.06% YoY in the previous month to -0.17% in December 2016.
Note: Due to some technical error in our calculation, the figure for Tokyo Trimmed CPI for the month of August was shown as 0.15% when we initially published our result. After a correction, the figure have been revised to -0.11% for August. We regret for any inconveniences caused.
10% trimmed CPI series aims to track the trend in the CPI inflation by removing its volatile components. All the items in the CPI are ranked by their year-on-year rate of price change and the highest and lowest 10 percentiles by weight are removed, leaving the 80% “core” components of the CPI inflation. Various research suggest that trimmed CPI is the best indicator for the medium term trend in the CPI inflation. Some central banks, such as RBA, are starting to adopt the series as officially monitored series. Japanese government does not officially published the series.
The Next Release Date: January 27th, 2017.