Friday, Sept 11, 2026
0850 JST (2350 GMT/1950 EDT Thursday, Sept 10) The Bank of Japan releases the August corporate goods price index.
Mace News median: CGPI +7.4% y/y (range: +6.9% to +7.8%) vs. July +7.2%; +0.0% m/m (range: -0.5% to +0.4%) vs. July +0.1%
By Chikafumi Hodo
TOKYO (MaceNews) – Japan’s producer inflation, as measured by the Corporate Goods Price Index (CGPI), is expected to pick up momentum in August amid rising oil and chemical prices and a lack of positive developments in the geopolitical situation in the Middle East. Corporations also appeared to be passing higher labor and logistics costs on to producer prices.
The yen’s weakness has also been pushing up producer prices. The CGPI import index rose 29.1% on the year in July, marking an eighth straight year-on-year increase, with the index posting gains of more than 20% for the fourth consecutive month.
The annual CGPI is projected to rise 7.4% year on year in August — the fastest pace since February 2023, when it increased 8.4% — following a 7.2% gain in July and a 7.3% gain in June. The largest contributors to the increase in July were non-ferrous metals, petroleum and coal products, information and communication equipment, and chemical products.
On a month-on-month basis, producer prices are expected to be flat in August after rising 0.1% a month earlier. In July, gains were led by utilities, food and beverages, and non-ferrous metals, while declines were mainly driven by oil products, such as naphtha and kerosene, and chemical products, including ethylene and polypropylene.