September CPI: All Items 102.2, Up 2.1% Year on Year; Core-Core Up 2.4%Prices are 2.1% higher than a year ago
On October 23, 2026 (Reiwa 8), the Statistics Bureau released the Consumer Price Index for Japan for September 2026. The all items index stood at 102.2, up 2.1% year on year; the index excluding fresh food was 102.3, up 2.1%; and the index excluding fresh food and energy was 102.8, up 2.4%. All are on the 2025 base, and the index that strips out the volatile fresh food and energy components rose the most. These are the figures that underpin decisions on price revisions, wage increases and price negotiations with customers.
Key points
- The all items index was 102.2, up 2.1% year on year
- The index excluding fresh food (core) was 102.3, up 2.1% year on year
- The index excluding fresh food and energy (core-core) was 102.8, up 2.4% year on year
- The indices are on the 2025 base. Released on October 23, 2026 (Reiwa 8)
What to do in practice
- Check whether increases in purchase prices are being passed on to selling prices and quotations, comparing against the indices for individual items
- Revise the assumptions for personnel cost and purchase cost growth in next year's budget and cash plan
The government (the Statistics Bureau) surveys the prices of many things sold in shops and adds them up. In the survey for September 2026, prices overall were 2.1% higher than in the same month a year earlier. If you leave out things whose prices swing a lot, such as vegetables and fish, and also leave out electricity, gas and petrol, the rise was 2.4%, which is bigger. Companies look at these numbers when they decide whether to raise their prices and whether to raise pay.
- Price a year ago
- JPY 1,000
- Rate of increase
- +2.1%
- Price now (approximate)
- About JPY 1,021
Points
- Prices overall were 2.1% higher than in the same month a year ago
- Even leaving out vegetables and fish, prices were 2.1% higher
- Leaving out vegetables and fish plus electricity, gas and petrol, the rise was 2.4%, the largest of the three
What the words mean
- Consumer Price Index
- A number showing how much the prices of things sold in shops have risen or fallen overall
- Year-on-year change
- How much something has changed compared with the same month one year earlier
- Statistics Bureau, Ministry of Internal Affairs and Communications: Statistics Bureau: Consumer Price Index (Japan), latest results
- Statistics Bureau, Ministry of Internal Affairs and Communications: Statistics Bureau: Consumer Price Index (CPI)
Economic news presents published statistics and outlooks. It is not investment solicitation or trading advice. Figures are as of publication and may be revised.
This article summarizes and explains materials published by government agencies and is not advice on any individual case. Rules can change, so for actual procedures and decisions always check the latest original materials and consult professionals such as tax accountants or labor and social security attorneys. English, Simplified Chinese and Traditional Chinese versions are translations prepared from the Japanese articles for convenience. If anything differs, the Japanese text and the original source take precedence.