FX.co ★ Japan’s GDP Price Index Eases Slightly in Q4 2025, Signals Stable Inflation Trend

Japan’s GDP Price Index edged down to 3.4% year-over-year in the fourth quarter of 2025, from 3.5% in the previous quarter, according to data updated on 15 February 2026. The slight moderation follows the third quarter of 2025, when the index had reached 3.5% on a year-over-year basis.

The GDP Price Index measures the overall price changes of goods and services produced within the economy and is a broad gauge of inflationary pressures. On a year-over-year comparison, the “actual” figure for the fourth quarter captures price developments relative to the same quarter a year earlier, while the “previous” figure reflected the third quarter’s change versus its year-ago level.

The marginal decline from 3.5% to 3.4% suggests that, while price pressures remain elevated compared with historical norms, they may be stabilizing rather than accelerating. Investors and policymakers will be monitoring subsequent readings closely to assess whether Japan’s inflation environment is shifting toward a more sustained and predictable path.