Wednesday, Dec. 10, 2025 0850 JST (2350 GMT/1850 EST Tuesday, Dec. 9) The Bank of Japan releases the November corporate goods price index.
Mace News median: CGPI +2.7% y/y (range: +2.5% to +2.9%) vs. Oct +2.7%; +0.3% m/m (range: +0.2% to +0.5%) vs. Oct +0.4%
By Chikafumi Hodo
TOKYO (MaceNews) – Japan’s corporate goods price index (CGPI), or producer inflation, is expected to remain firm in November, supported by a continued uptrend in food prices, including rice, rising industrial metal prices, and a weaker yen that is lifting import costs. International commodity prices are also trending higher.
The median forecast in the Mace News survey of forecasters sees November CGPI up 2.7% on the year, unchanged from October’s rate, driven by elevated rice prices and stronger nonferrous metals. Farm produce prices were up 31.4% in October versus a revised 31.9% in September.
The end of the government’s electricity and gas bill subsidies is also expected to generate upward pressure on overall producer prices. Copper prices have climbed amid yen weakness and expectations for stronger demand as U.S.–China tensions ease. Meanwhile, soft domestic demand weighed on the prices of steel products and chemicals. On a month-on-month basis, the CGPI is projected to rise for the third straight month in November, increasing 0.3% after a 0.4% gain in October and a revised 0.5% rise in September.