The corporate goods price index released by the Bank of Japan rose 7.1% year on year in October 2026, while nonferrous metals rose 31.7% to reach a new record high.
The domestic corporate goods price index stood at 136.8, based on the 2020 average of 100, up 7.1% year on year. This marked a new highest level since 1980, while the index also rose 0.7% from the previous month, turning positive for the first time in 3 months.
By component, nonferrous metals stood out, rising 31.7% year on year, while petroleum and coal products, electricity, city gas and water, and chemical products each remained at elevated levels. Agricultural, forestry and fishery products fell 25.0%, a substantial decline, with notable variation across items in the overall movement.
Import prices in yen rose 24.8% year on year, while those in contract currency terms rose 19.2%. Increases in petroleum-related products such as crude oil, jet fuel and gasoline pushed up the overall figure, with electrical and electronic equipment and chemical products also contributing. Export prices in yen rose 16.7% year on year, while those in contract currency terms also maintained double-digit growth.
Attention will now focus on trends in the consumer price index (CPI), which could also affect the Bank of Japan's policy management. The preliminary release of the November corporate goods price index is scheduled for 10 December, with the spread of price pass-through and trends in upstream cost pressures expected to be key areas of focus.