日本的年通货膨胀率从前两个月的3.6%降至2025年5月的3.5%，为11月以来的最低水平。服装（4月份为2.6%对2.7%）、家居用品（3.6%对4.1%）和医疗保健（2.0%对2.2%）的价格增长有所放缓，而教育成本进一步下降（-5.6%）。相比之下，交通（2.7%）和杂项（1.3%）的通货膨胀保持稳定，但住房（1.1%对1.0%）、娱乐（3.0%对2.7%）和通信（1.9%对1.1%）的通货膨胀加速。与此同时，电价（11.3%对13.5%）和天然气价格（5.4%对4.4%）仍然居高不下。在食品方面，价格上涨了6.5%，保持在四个月来的最低水平，尽管大米价格飙升了100%以上，突显出政府控制主食成本的努力影响有限。不包括新鲜食品的核心通胀率从4月份的3.5%上升至3.7%，达到大选前两年多来的最高水平。CPI环比上涨0.3%，高于4月份的0.1%。

Japan's annual inflation rate edged down to 3.5% in May 2025 from 3.6% in the previous two months, marking the lowest level since November. Price growth eased for clothing (2.6% vs 2.7% in April), household items (3.6% vs 4.1%), and healthcare (2.0% vs 2.2%), while education costs fell further (-5.6%). In contrast, inflation held steady for transport (2.7%) and miscellaneous items (1.3%), but accelerated for housing (1.1% vs 1.0%), recreation (3.0% vs 2.7%), and communications (1.9% vs 1.1%). Meanwhile, prices of electricity (11.3% vs 13.5%) and gas (5.4% vs 4.4%) remained elevated. On the food side, prices increased by 6.5%, staying at the slowest pace in four months, though rice prices soared over 100%, underscoring the limited impact of government efforts to rein in staple food costs. Core inflation, which excludes fresh food, rose to 3.7% from 3.5% in April, reaching its highest level in over two years ahead of the election. Monthly, the CPI rose 0.3%, up from a 0.1% gain in April.