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Tokyo's September CPI surpasses expectations, rises from August

Japan's Tokyo CPI for September beat expectations across all categories; the unemployment rate rose to 2.5% versus a predicted 2.4%.

01/10/2026 23:413 min read

This post contains only the data; further analysis and implications will appear separately.

Tokyo CPI year-on-year for September:

  • Economists had expected 2.5%, and the prior month's reading was 1.9%.

The headline index came in at 2.7% year-on-year.

  • The consensus estimate was 2.5%, while the previous month was 1.9%.

Core CPI also registered 2.7% year-on-year.

  • The expected rate was 2.4%, compared to 1.8% in the prior month.

The CPI excluding food and energy climbed 3.0% year-on-year.

  • Forecasts had called for 2.5%, and the previous reading was 2.0%.

The jobs-to-applicants ratio for August stood at 1.18.

  • The figure matched both the expected 1.18 and the prior month's 1.18.

August's unemployment rate came in at 2.5%.

  • The forecast and prior reading had both been 2.4%.

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