Inflation for January 2014 was 0.3% which was 0.3 percentage points below the rate for December 2013. The fiscal-year-to-date inflation was 6.9% while point-to-point inflation was 9.3%, which was 1 percentage point higher than the 8.3% for the corresponding period of 2013.

Inflation in January 2014 was primarily driven by the 12% increase in the National Minimum Wage which took effect on January 6, 2014. This resulted in the ‘Furnishings, Household Equipment and Routine Household Maintenance’ division recording the highest movement of 2.9%. All other divisions recorded an inflation rate below 1%.

diG Deeper

•  Monthly Inflation Rate 
• Annual Inflation Rate
• Fiscal Inflation On Target – November 2013
• Inflation Rises In December 2012 
• Read the story on BOJ’s plans to implement an inflation targeting regime