Japan's national CPI for September due 23 October: Tokyo's core rose to 2.7%
Japan's Statistics Bureau publishes the national September consumer price index on 23 October. Tokyo's core rate rose to 2.7% in September from 1.8% in August, and the national core was 1.7% in August.
Japan's Statistics Bureau publishes the national consumer price index for September 2026 on 23 October. The national figure follows Tokyo's September reading, which showed core inflation rising to 2.7% from 1.8% in August, helped by childcare, water and lodging charges (Tokyo report).
The last national reading
National core inflation was 1.7% in August, and the national figure excluding fresh food and energy was 1.9% (August report). The national figure does not always move by the same amount as Tokyo.
What to watch
Traders will look at core inflation first, then at the components that moved in Tokyo. If the national reading follows Tokyo's jump, it will add weight to the case for further Bank of Japan tightening. The Bank raised its rate to 1.25% in September and meets again on 29–30 October (BoJ report).
Why it matters for USD/JPY
The yen has been sensitive to Japanese inflation and to the Bank's pace of tightening. For the broader approach, see how to trade USD/JPY. Live prices: USD/JPY.
Sources
Common questions
When is Japan's national September CPI published?
The Statistics Bureau publishes it on 23 October 2026.
What was Japan's national core inflation in August 2026?
National core inflation was 1.7% in August, according to the Statistics Bureau's figures reported in our August article.
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