Japan: inflation rises to 2.1 per cent year-on-year in September from 1.9 per cent in August

+2.1% core figure: first time above the BoJ’s target in nine months

(Il Sole 24 Ore Radiocor) - Inflation is accelerating in Japan. In September, the overall consumer price index rose by 2.1 per cent compared with the same month in 2025, up from the 1.9 per cent recorded in August. On a month-on-month basis, the change was +0.4 per cent. The index excluding fresh food also rose to +2.1 per cent year-on-year from +1.7 per cent in August (+0.5 per cent month-on-month). The index excluding fresh food and energy rose by 2.4 per cent from +1.9 per cent in August (+0.5 per cent month-on-month). The figures released by the Ministry of Internal Affairs and Communications are in line with analysts’ forecasts. This is the first time in nine months that annual inflation – both overall and excluding fresh food – has risen above the 2 per cent target set by the Bank of Japan.

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