2024年10月，日本核心消费者价格指数（不包括新鲜食品，但包括燃料成本）同比上涨2.3%。这标志着经济连续第二个月放缓，达到4月以来的最低水平。然而，这一增长略高于市场预测的2.2%。尽管如此，日本的核心通胀率在两年多的时间里一直保持在或高于日本央行2%的目标，这促使央行今年采取了更强硬的立场。为了应对持续的通货膨胀，日本央行在3月和7月提高了利率，并表示准备进一步加息。日本央行行长上田和夫本周表示，货币政策决定将根据现有数据逐次会议作出。然而，他也暗示，最早可能在12月再次加息，特别是考虑到最近日元的疲软。

Japan's core consumer price index, which excludes fresh food but includes fuel costs, rose by 2.3% year-on-year in October 2024. This marked a slowdown for the second consecutive month, reaching the lowest level since April. However, the increase was slightly higher than the market forecast of 2.2%. Despite this, Japan's core inflation has consistently remained at or above the Bank of Japan's 2% target for over two years, which has contributed to the central bank’s more hawkish stance this year. In response to persistent inflation, the BOJ raised interest rates in March and July and has indicated a readiness to implement further hikes. BOJ Governor Kazuo Ueda stated this week that monetary policy decisions will be made on a meeting-by-meeting basis, depending on the available data. However, he also suggested the possibility of another rate increase as early as December, particularly in light of the recent weakness in the yen.

2024年10月，日本食品价格较去年同期上涨3.5%，而前一个月上涨3.4%。肉类（9月份为5.0%对4.1%）、蛋糕和糖果（5.0%对3.3%）、谷物（13.5%对10.4%）和饮料（6.1%对3.5%）的成本加速。与此同时，新鲜水果（6.6%对10.6%）、新鲜蔬菜（2.0%对6.8%）、熟食（1.8%对2.1%）和油、脂肪和调味品（0.2%对0.3%）的价格有所放缓。与此同时，鱼类和海鲜（-0.3%对0.4%）以及乳制品和鸡蛋（-2.1%对-2.9%）的成本进一步下降。此外，酒精饮料价格从9月份的0.7%上涨下降了0.2%。

Food prices in Japan increased by 3.5% from a year earlier in October 2024, following a 3.4% rise in the prior month. Cost accelerated for meats (5.0% vs 4.1% in September), cakes & candies (5.0% vs 3.3%), cereals (13.5% vs 10.4%), and beverages (6.1% vs 3.5%). At the same time, prices moderated for fresh fruits (6.6% vs 10.6%), fresh vegetables (2.0% vs 6.8%), cooked food (1.8% vs 2.1%), and oil, fats & seasonings (0.2% vs 0.3%). Simultaneously, cost declined further for fish & seafood (-0.3% vs 0.4%) and dairy products & eggs (-2.1% vs -2.9%). Also, prices of alcoholic beverages declined by 0.2%, turning from a 0.7% rise in September.

2024年10月，日本的年通货膨胀率从上月的2.5%降至2.3%，为1月以来的最低水平。由于5月份取消能源补贴的影响减弱，电价出现了六个月来最小的涨幅（4.0%对9月份的15.2%）。此外，天然气价格上涨速度较慢（3.5%对7.7%）。此外，家具和家用器皿（4.4%对4.8%）和文化（4.3%对4.8%”）的成本也有所放缓。此外，通信（-3.5%对-2.6%）和教育（-1.0%对-1.0%）的价格进一步下跌。另一方面，食品（3.5%对3.4%）和住房（0.8%对0.7%）的价格小幅上涨。与此同时，由于服装（2.8%对2.6%）、医疗保健（1.7%对1.5%）和杂项（1.1%对0.9%）成本上涨更快，运输价格上涨（0.5%对0.1%）。核心通胀率触及2.3%的六个月低点，低于9月份的2.4%，但高于2.2%的预期。月度CPI上涨0.4%，与9月份0.3%的跌幅相反。

The annual inflation rate in Japan fell to 2.3% in October 2024 from 2.5% in the prior month, marking the lowest reading since January. Electricity prices saw the smallest increase in six months (4.0% vs 15.2% in September), as the effects of the energy subsidy removal in May diminished. Also, gas prices rose more slowly (3.5% vs 7.7%). In addition, costs slowed for furniture and household utensils (4.4% vs. 4.8%) and culture (4.3% vs. 4.8%). Moreover, prices dropped further for communication (-3.5% vs -2.6%) and education (-1.0% vs. -1.0%). On the other hand, prices edged higher for food (3.5% vs 3.4%) and housing (0.8% vs. 0.7%). Meanwhile, transport prices jumped (0.5% vs. 0.1%) amid faster rises in cost of clothing (2.8% vs 2.6%), healthcare (1.7% vs 1.5%), and miscellaneous items (1.1% vs 0.9%). The core inflation rate hit a six-month low of 2.3%, down from September's 2.4% but above estimates of 2.2%. Monthly, the CPI increased by 0.4%, a reversal from a 0.3% fall in September.

日本济邦银行服务业采购经理人指数：50.2（11月）vs 49.7。日本济邦银行服务业采购经理人指数：50.2（11月）vs 49.7

Japan Jibun Bank Services PMI: 50.2 (November) vs 49.7.Japan Jibun Bank Services PMI: 50.2 (November) vs 49.7