Japanese inflation breaks 2% for the first time this year

The consumer price index excluding fresh food rose 2.1% in September from a year earlier, according to the internal affairs ministry. | GETTY IMAGES

Oct 23, 2026

Inflation topped 2% in Japan for the first time this year, putting more pressure on the central bank to stay vigilant against rising prices and raise rates. 

Government data released on Friday showed that overall consumer prices rose 2.1% year over year in September. Inflation excluding volatile fresh food also stood at 2.1%, the highest since December last year and matching a forecast by analysts.

The reading excluding both fresh food and energy was 2.4%. 

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