Inflation Japan 2026
Average inflation: 1.6%
Inflation in 2026
Inflation is low at 1.6%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in September at 2.1%. The lowest inflation was in February at 1.3%.
- Highest month
- September: 2.1%
- Lowest month
- February: 1.3%
- Difference
- 0.8 percentage points
- Months with data
- 9 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 3.7%. The lowest price increase was in Education with an average of -3.3%.
- Highest increase
- Food and non-alcoholic beverages: 3.7%
- Lowest increase
- Education: -3.3%
Historical Context
Inflation is 1.1 percentage points lower than the 5-year average of 2.7%.
- 5-year average
- 2.7%
- 10-year average
- 1.5%
- All-time high (2023)
- 3.3%
- All-time low (2009)
- -1.3%
Trend
Over the period 2024-2026, inflation shows a downward trend. Compared to 2025, inflation has fallen by 1.6 percentage points.
- Change vs. previous year
- -1.6 percentage points
- Largest monthly swing
- January: -2.5 percentage points
ECB Target
Inflation is 0.4 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for ¥100 this year will cost approximately ¥102 next year at this inflation rate.
Multi-year trend
Monthly figures 2026
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2025 |
|---|---|---|
| January | 1.5% | -2.5 |
| February | 1.3% | -2.4 |
| March | 1.5% | -2.1 |
| April | 1.4% | -2.2 |
| May | 1.5% | -2.0 |
| June | 1.6% | -1.7 |
| July | 1.9% | -1.2 |
| August | 1.9% | -0.8 |
| September | 2.1% | -0.8 |
| Average | 1.6% |
Data source
Data from OECD. Last updated: 29/10/2026. Not all months available yet.