Japan wholesale inflation cools to 6.8 percent in September

Japan's corporate goods price index rose 6.8 percent year on year in September, below the 7.6 percent forecast and August's 7.6 percent, while yen-based import prices jumped 24.5 percent.

Why it matters: The softer headline trims some urgency from the Bank of Japan hike case, but an annual pace near 7 percent and surging import costs keep pipeline pressure, and hike expectations, alive into this month's policy meeting.

Data as of Monday night, October 12, 2026. Bank of Japan September release via the official P0 feed; figures and the 7.6 percent median forecast per investingLive, opened and read in full.

Japan’s wholesale prices rose 6.8 percent in the year to September, the Bank of Japan said, below the 7.6 percent median forecast and August’s 7.6 percent gain. On the month, prices fell 0.3 percent, against expectations for a 0.5 percent rise, as the headline came in softer than feared.

The details were less comforting. Companies kept passing higher fuel and chemical costs to each other, and the yen-based import price index jumped 24.5 percent year on year, showing the weak currency is still inflating raw material costs. The reading feeds into the BOJ’s policy meeting later this month, where the board publishes fresh growth and inflation forecasts.

Japan wholesale inflation cools to 6.8 percent in September

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