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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan CPI MoM fell to 0.0% in May 2026
FMPMonthlyReleased May 2026
Japan CPI MoM fell to 0.0% in May 2026, down 0.2% from April's 0.2% reading.
Latest Release
0.000000
Actual
—
Consensus
0.200000
Previous
Sigmacast Track Record
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).
CORRELATED SYMBOLS— markets that historically move with this indicator
| 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.
THE RELEASE
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.
WHY IT MATTERS
The indicator has been trending downward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/JPY (Bullish JPY). A secondary relationship exists with EUR/JPY, negatively correlated (Bullish JPY).
WHAT TO WATCH NEXT
The next release is scheduled for June 25, 2026. Same-country events in the next 14 days include Current Account (Jun 7) and Gross Domestic Product QoQ (Jun 7).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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CPI MoM - JP
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About CPI MoM — Japan
DEFINITION
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
WHY THIS INDICATOR MATTERS
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.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 0 %. Prior reading (May 2026): 0 %. Before that (May 2026): 0 %.
WHAT'S NEXT
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.