Japan - Producer Price Index (PPI)

Japan: Producer Price Index (PPI)

Mnemonic PPI.IJPN
Unit Index 2020=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.5 %
Data Dec 2022 119.5
Nov 2022 118.9

Series Information

Source Bank of Japan
Release Corporate Goods Price Index (CGPI)
Frequency Monthly
Start Date 1/31/1960
End Date 12/31/2022

Release Information

For Japan, the Corporate Goods Price Index (CGPI) measures the price developments of goods traded within the corporate sector. Its purposes are: to grasp supply-demand trends in goods, to assess economic developments and monetary policy, as a deflator, and as a reference index for price-setting activities in the corporate sector.

The CGPI includes three "Basic Grouping" indexes -- Producer Price Index (PPI), Export Price Index (EPI), and Import Price Index (IPI) -- in which commodities are classified under the Japan Standard Industrial Classification (JSIC) or partly the attributes of products. The CGPI also includes five "Reference" indexes: by stage of demand and use, PPI using chain-weighted index formula, PPI excluding consumption tax, prewar-base index, and passenger cars.


  • Classification: JSIC
  • Measurement: Fixed-base index relative to 2020 (Index 2020=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: Uniformly 1995m1


  • 2015=100 - 1995 to 2022 (archive specifier "_15")
  • 2010=100 - 1995 to 2016 ("_10")
  • 2005=100 - As early as 1960 to 2012 ("05")
  • Chain-weighted 2005=100 - 1995 to 2012

Producer Price Index (PPI)

The PPI generally corresponds to the global standard as for it covers domestically-produced and domestically-traded goods in the corporate sector, and is compiled in principle, by surveying prices at the time of shipment in the producer stage.

The Bank of Japan (BOJ) conducts the survey. In the 2015 base, the PPI is classified into five major groups and further classified into 23 groups. It is compiled including the consumption tax.

In addition, indexes excluding extra charges for summer electricity, which adjust extra charges applied during summer season from July to September, are compiled as reference. The price levels of these indexes correspond to those of the Basic Grouping indexes during the normal charge period from October to June.

Export Price Index (EPI) and Import Price Index (IPI)

The stage and timing of price collection of goods for the EPI and IPI are at the time cargo is loaded/unloaded in Japan at the customs clearance stage, respectively. In the 2015 base, the EPI and IPI are classified into seven groups and 10 groups, respectively and they are compiled using prices without the consumption tax. The export and import values of 2015 in the Trade Statistics of Japan by Ministry of Finance are used for their weight calculation.

These indexes are compiled in two ways, a yen basis and a contract currency basis. 

For indexes based on contract currencies, sample prices denominated in contract currencies are used directly. Conversely, for the yen basis, sample prices contracted in foreign currencies are converted into prices in yen, using telegraphic transfer spot exchange rates (monthly average, middle rate).

Moody's Analytics supplements

We have back-extended the headline series (1960m1 to 1995m12). We have constructed a seasonally adjuste counterpart to "electric power".


The index base year is advanced every five years.