Japan’s National Consumer Price Index (CPI) rose 2.1% year-over-year in September 2026, slightly above the 1.9% annual gain recorded in August, according to data updated on 22 October 2026. The move marks a modest re-acceleration in inflation and returns the headline figure to above the 2% threshold on an annual comparison.
The data are based on a year-over-year measure, comparing price levels in each reported month with the same month a year earlier. August’s 1.9% reading was calculated against August of the previous year, while September’s 2.1% figure reflects the change from September a year ago. The uptick suggests that price pressures, while still contained, remain persistent enough to keep inflation slightly above the pace seen during the prior month.