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Japan's Producer Price Index Rises 2.3% in April

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Japan's producer price index (PPI) rose 4.9% on year in April and gained 2.3% from March, according to a preliminary report released by the Bank of Japan on Friday.

The PPI had risen by a revised 2.9% on-year in April.

Pushing up the PPI in April were chemicals up 9.2% on year, beverages and foods, up 4.1%, and transportation inched up 1.6%, among other items.

In contrast, electric power, gas and water bills slipped 1.3% on year in April.

The PPI measures prices at the factory gate, or those charged to businesses and distributors.

It is distinct from the consumer price index (CPI), which measures prices in retail locations. The PPI is considered a precursor to future movements in the CPI, as retailers try to recoup costs.

The Bank of Japan targets 2% annual CPI. Japan's March 2026 national CPI was 1.5%, up from 1.3% previously, while the Tokyo Core CPI - a leading indicator - softened to 1.5% in April.

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