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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Producer Price Index YoY climbed to 7.1% in June 2026
FMPMonthlyReleased July 2026
Japan Producer Price Index YoY climbed to 7.1% in June 2026, released July 2026, up 0.5% from May's 6.6% reading. The reading matched the 6.8% consensus. Producer Price Index YoY has now risen for 5 consecutive months. Over the past 3 months, Producer Price Index YoY averaged 5.6%, vs 2.32% in the prior 3-month window. Producer Price Index YoY is now the highest in 17 months.
Latest Release
7.1
Actual
6.8
Consensus
6.6
Previous
Median Absolute Error
±0.13 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 7.48
Actual: 7.1
Error: +0.38
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Hang Seng | ▼ Inverse | −0.53 | INDEX | Moves against | → View |
| Nikkei 225 | ▼ Inverse | −0.36 | INDEX | Moves against | → View |
| AUD/JPY | ▼ Inverse | −0.34 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Producer Price Index YoY (Japan) was reported at 7.1% in July 2026. This beat the market consensus of 6.8% by 0.3%. The reading rose from the previous value of 6.6%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 3.49%, ranging from 2% to 7.1% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 6.1%, up from the prior three at 2.23%. Volatility over the past year (σ 1.68%) is higher than the prior year (σ 0.51%).
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with Hang Seng (Bearish Hang Seng). A secondary relationship exists with Nikkei 225, negatively correlated (Bearish Nikkei 225). Over the last 12 releases, the Sigmacast model's median absolute error is 0.13%.
WHAT TO WATCH NEXT
The next release is scheduled for August 12, 2026. Same-country events in the next 14 days include CFTC JPY speculative net positions (Jul 31) and BoJ Monetary Policy Meeting Minutes (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Producer Price Index YoY - JP
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About Producer Price Index YoY — Japan
DEFINITION
Japan's Producer Price Index YoY rose to 7.100% in July, beating the 6.800% estimate and up from June's 6.600%. This marks a continued acceleration in producer inflation, reflecting persistent price pressures in the supply chain. Market participants will watch for further central bank signals amid this sustained inflationary trend. Updated 7/11/26
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 7.1 %, consensus 6.8 %. Prior reading (May 2026): 6.3 %. Before that (Apr 2026): 4.9 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with Hang Seng (Bearish Hang Seng, r=-0.53) — a useful reference for index-focused traders.
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Economic Calendar - JP Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 05:00 | JP | Consumer Confidence | 34.9 | 33.8 | 34.2 | 34.55 | High |
| 23:30 | JP | Unemployment Rate | 2.5 | 2.5 | 2.5 | 2.50 | Medium |
| 23:30 | JP | Core CPI YoY | 1.9 | 1.6 | 1.7 | 1.80 | Low |
| 23:30 | JP | Jobs/applications ratio | 1.18 | 1.17 | 1.17 | 1.17 | Low |
| 23:30 | JP | CPI YoY | 2 | 1.9 | 2 | 2.00 | Low |
| 23:50 | JP | Retail Sales YoY | 0.5 | 5 | 3.1 | 1.80 | Medium |
| 23:50 | JP | Industrial Production MoM | 1.3 | 0.1 | 0.7 | 1.00 | Medium |
| 23:50 | JP | Retail Sales MoM | -4.1 | 1.7 | -0.5 | -2.30 | Low |
| 23:50 | JP | Industrial Production YoY | 4.2 | -2.1 | 1.8 | 3.00 | Low |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 03:00 | JP | BoJ Interest Rate Decision | 1 | 1 | 1 | 1.00 | High |
| 05:00 | JP | Construction Orders YoY | 2.3 | -6.7 | -7 | -2.35 | Low |
| 05:00 | JP | Housing Starts YoY | 18.6 | 33.9 | 12.8 | 15.70 | Medium |