The total average of the Corporate Services Price Index stood at 115.1 in July 2026, up 3.6% year on year. Excluding international transport, the index was 114.2, with sectors including transport, leasing and other services pushing up the overall figure.
The Corporate Services Price Index is an indicator published by the Bank of Japan showing trends in prices for business-to-business services. This article explains that the total average for July 2026 was 115.1 (2020 average = 100), marking a 3.6% year-on-year increase. It also shows that the month-on-month change was a modest 0.4% increase.
The rise in the total average was driven largely by higher prices in sectors including transport and postal services, leasing and rentals, and other services. Transport and postal services rose 6.4% year on year, while leasing and rentals continued to increase, rising 11.6%; advertising, by contrast, declined. Excluding international transport, the index was 114.2, and movements in this measure are also considered important for assessing underlying domestic trends.
Points to watch going forward include the extent to which higher wages and labor shortages are passed through to service prices, and how this may affect the Bank of Japan’s monetary policy. The July data continued to rise from 112.0 at the beginning of 2026 and is positioned as a basis for assessing Japan’s inflation trends through its relationship with wage developments and the CPI. The next release is scheduled for 28 September, and further analysis of overall price trends is expected as developments unfold.