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Japan CPI MoM fell to 0.0% in May 2026, down 0.2% from April's 0.2% reading.
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▼ Inverse | −0.50 | FOREX | Bullish JPY | → View |
| EUR/JPY | ▼ Inverse | −0.45 | FOREX | Bullish JPY | → View |
| Nikkei 225 | ▲ Direct | +0.45 | INDEX | Bullish JP | → View |
| GBP/JPY | ▼ Inverse | −0.40 | FOREX | Bullish JPY | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
CPI MoM (Japan) was reported at 0% in May 2026. The reading fell from the previous value of 0.2%. Trailing 12-month context per ETL data through May 2026.
The indicator has been trending downward over the last three releases.
Historically, this indicator is negatively correlated with USD/JPY (Bullish JPY). A secondary relationship exists with EUR/JPY, negatively correlated (Bullish JPY).
The next release is scheduled for June 25, 2026. Same-country events in the next 14 days include Monetary Policy Statement (Jun 16) and BoJ Interest Rate Decision (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
Japan's CPI MoM for May registered at 0.000000%, marking a sharp deceleration from April's 0.20%. This flat reading signals a pause in monthly inflation momentum after consecutive increases. Market focus now shifts to upcoming data for further inflation direction and Bank of Japan policy implications. Updated 5/29/26
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
Latest reading (May 2026): actual 0 %. Prior reading (May 2026): 0 %. Before that (May 2026): 0 %.
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/JPY (Bullish JPY, r=-0.50) — a useful reference for forex-focused traders.
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
| Monday, June 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 04:30 | Tertiary Industry Index MoM | 1.3 | -0.6 | 0.5 | 0.93 | Low | |
| Tuesday, June 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 03:00 | BoJ Interest Rate Decision | 0.75 | 1 | 1.00 | High | ||
| 23:00 | Reuters Tankan Index | 8 | 9 | 12.00 | Low | ||
| 23:50 | Machinery Orders MoM | -9.4 | 0.9 | 2.95 | Medium | ||
| 23:50 | Imports YoY | 9.7 | 12.8 | 12.15 | Low | ||
| 23:50 | Exports YoY | 14.8 | 16.2 | 17.50 | Medium | ||
| 23:50 | Balance of Trade | 301.9 | -564.6 | -294.35 | High | ||
| 23:50 | Machinery Orders YoY | 5.9 | 9.3 | 10.90 | Medium | ||
| 23:50 | Adjusted Trade Balance | 0.24 | -0.21 | -0.21 | Medium | ||
| Wednesday, June 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 23:00 | Reuters Tankan Index | 8 | 9 | 12.00 | Low | ||