Japan’s Services Producer Price Index rose 3.7% year-on-year in September 2026, accelerating from a downwardly revised 3.5% in the previous month and matching market expectations. It was the highest reading since June 2024, as persistent labor costs and elevated transport and fuel expenses amid geopolitical tensions continued to drive service-sector inflation. Price growth accelerated in finance and insurance (1.5% vs 1.4% in August), real estate (2.2% vs 2.1%), transport and postal activities (8.4% vs 6.8%), leasing and rental services (11.7% vs 11.0%), and other services (2.8% vs 2.5%). Meanwhile, prices in information and communications rose at an unchanged pace of 2.5%, while advertising prices fell more sharply (-5.2% vs -0.8%). On a monthly basis, the index increased 0.3%, following a downwardly revised 0.1% gain in August, marking its third consecutive monthly rise. source: Bank of Japan
Services Producer Price Index YoY in Japan averaged 0.47 percent from 1986 until 2026, reaching an all time high of 5.60 percent in September of 1989 and a record low of -3.00 percent in June of 2001. Japan Services Producer Price Index (SPPI) YoY - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.
Services Producer Price Index YoY in Japan is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Services Producer Price Index (SPPI) YoY is projected to trend around 2.60 percent in 2027 and 2.00 percent in 2028, according to our econometric models.