PCE and GDP price indexes · Japan
Japan GDP Price Index YoY Prel
The Japan GDP Price Index YoY Prel measures the prices of everything households (PCE) or the whole economy (deflator) buy. In Japan it is one of the main measures of inflation.
- Importance
- Medium
- Released
- Quarterly
- Next release
- Currency
- JPY · Japanese yen
- Central bank
- The Bank of Japan
Latest figures
The latest release for Q2, published on 16 August 2026, came in at 2.6%, above the consensus of 2.4%, down from 3.2% the time before.
A higher figure than expected makes the Bank of Japan more likely to keep rates high or raise them: it tends to support the Japanese yen and push bond yields up, and is often a weight on stocks.
Over the last 7 releases it ranged from 2.6% to 3.4%, averaging 3.0%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 16 Aug 2026 | Q2 | 2.6% | 2.4% | 3.2% |
| 18 May 2026 | Q1 | 3.4% | 3.1% | 3.4% |
| 15 Feb 2026 | Q4 | 3.4% | – | 3.5% ® |
| 16 Nov 2025 | Q3 | 2.8% | – | 2.9% ® |
| 14 Aug 2025 | Q2 | 3.0% | 3.1% | 3.3% |
| 15 May 2025 | Q1 | 3.3% | 3.2% | 2.9% |
| 16 Feb 2025 | Q4 | 2.8% | 2.8% | 2.4% ® |
Why it matters
In the United States the Federal Reserve's 2% target is defined on the PCE price index, and the core measure (without food and energy) is the one policymakers quote most. Because CPI comes out first, markets usually know roughly what PCE will show; surprises come from the parts measured differently, such as health care.
How it is calculated
PCE prices are built from the same price data as CPI and producer prices, but weighted by what households actually spend (including what is paid on their behalf, like employer health insurance), and the weights change every period. The GDP deflator divides nominal GDP by real GDP.
Deflator = nominal GDP ÷ real GDP × 100
PCE inflation = PCE index ÷ PCE index a year ago − 1What changes mean
- Core PCE above 2% and rising keeps the Fed cautious about cutting rates.
- The monthly change annualised (× 12) shows the latest pace; three-month averages smooth the noise.
Higher than expected: A higher figure than expected makes the Bank of Japan more likely to keep rates high or raise them: it tends to support the Japanese yen and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives the Bank of Japan room to cut or hold rates lower: the Japanese yen tends to soften and bond yields to fall.
A short history
The Fed switched its preferred inflation measure from CPI to PCE in 2000 and wrote the 2% PCE target into its strategy in 2012.
Questions
What is the Japan GDP Price Index YoY Prel?
The Japan GDP Price Index YoY Prel measures the prices of everything households (PCE) or the whole economy (deflator) buy. In Japan it is one of the main measures of inflation.
What was the latest Japan GDP Price Index YoY Prel?
2.6% for Q2, published on 16 August 2026 (consensus 2.4%, previous 3.2%).
When is the next Japan GDP Price Index YoY Prel?
On Sunday 15 November 2026 at 23:50 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.