FX.co ★ Japan’s GDP Price Index Holds Steady at 3.4% in Q1 2026, Matching Late-2025 Pace

Japan’s GDP Price Index rose 3.4% year-over-year in the first quarter of 2026, unchanged from the 3.4% increase recorded in the fourth quarter of 2025. The data, updated on 18 May 2026, indicate that the broad price level within the Japanese economy is advancing at the same annual pace as at the end of last year.

Measured on a year-over-year basis, the current figure compares the first quarter of 2026 with the same quarter a year earlier, while the previous reading reflected the change in the fourth quarter of 2025 versus the fourth quarter of the prior year. The unchanged 3.4% rate suggests that, over these two consecutive comparison periods, Japan’s overall GDP deflator has neither accelerated nor decelerated, pointing to a stable, though elevated, price environment in the broader economy.