Japan’s producer prices rose 6.8% year-on-year in September 2026, easing from August’s pace and undershooting market expectations for a 7.6% gain, to register the slowest growth since May. The moderation points to diminishing upstream cost pressures, though producer inflation remains relatively high. On a month-on-month basis, producer prices fell 0.3%, matching the revised drop in August and marking a second straight monthly decline. This outcome also ran counter to market forecasts for a 0.5% increase.