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19.02.202623:30:00UTC+00Japan’s Consumer Prices Flat in January, Extending Deflationary Streak

Japan’s National Consumer Price Index (CPI) remained unchanged in January 2026, recording a month-over-month reading of -0.1%, identical to the previous month’s figure. The data, updated on 19 February 2026, show that price pressures continued to soften at the start of the year, extending the deflationary signal seen in December 2025.

The January print confirms that, on a month-over-month basis, consumer prices fell at the same pace as in December, with the “actual” comparison measuring the change from January to December 2025, and the “previous” comparison reflecting December 2025 against November 2025. The back-to-back -0.1% readings underline the persistence of weak price momentum, a key consideration for policymakers and investors tracking Japan’s inflation trajectory and the prospects for any shift in monetary policy stance.

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