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Japan Firms' Inflation Outlook, 1 Year

Tankan survey of enterprises' inflation expectations — outlook for general prices, 1 year ahead — average expected rate of change by enterprise size and industry. 164 series.

Source: Bank of Japan – Time-Series Data SearchLast updated: Sep 22, 2026, 13:54Curated by Bui Thanh PhucAbout this data ↓

IndicatorQ2-2026Q1-2026Q4-2025Q3-2025Q2-2025Q1-2025Q4-2024Q3-2024Q2-2024Q1-2024Q4-2023Q3-2023Q2-2023
Outlook for General Prices (1 year ahead)(The Average of Enterprises' Inflation Outlook)4
All Enterprises41
All industries2.72.62.42.42.42.52.42.42.42.42.42.52.6
Manufacturing2.82.62.42.42.52.52.42.42.52.42.52.62.7
Textiles2.92.62.42.52.52.62.42.52.72.62.72.72.9
Lumber & Wood products32.72.52.52.52.82.42.42.62.42.62.62.5
Pulp & Paper32.52.32.32.22.42.22.12.22.22.22.42.4
Chemicals2.82.52.42.32.32.42.32.42.42.32.32.42.4
Petroleum & Coal products3.22.92.72.42.732.52.62.72.62.82.92.9
Ceramics, Stone & Clay2.82.62.62.62.62.82.62.52.62.62.72.83.1
Iron & Steel2.82.52.42.32.42.62.52.62.82.62.62.52.7
Nonferrous metals2.62.62.22.32.22.42.32.32.42.42.32.42.6
Food & Beverages2.82.72.52.52.62.62.42.32.52.52.52.72.8
Processed metals2.92.62.32.42.42.42.32.32.42.42.52.52.7
General-purpose, Production & Business oriented machinery2.72.62.52.52.52.62.52.52.62.52.62.72.8
General-purpose machinery2.72.62.42.42.62.72.52.72.72.72.92.92.9
Production machinery2.82.62.52.52.42.52.52.42.52.52.52.62.7
Business oriented machinery2.72.62.62.52.42.52.52.52.62.52.52.72.8
Electrical machinery2.52.52.42.32.32.32.32.32.32.32.42.52.5
Transportation machinery2.72.62.52.52.42.52.42.42.42.42.32.42.4
Shipbuilding, Heavy machinery & Other transportation machinery3.12.82.72.82.82.82.62.72.72.62.52.62.7
Motor vehicles2.42.32.32.22.12.32.32.22.22.22.22.32.2
Other manufacturing32.72.52.62.62.62.52.62.52.42.52.62.7
Basic materials2.92.62.42.42.42.62.42.42.52.52.52.62.6
Processing2.82.62.52.52.52.52.42.42.52.42.52.62.7
Nonmanufacturing2.72.62.42.42.42.52.42.42.42.42.42.52.6
Construction32.72.52.62.62.72.62.62.62.62.62.72.7
Real estate, Goods rental & Leasing2.62.52.42.32.42.52.32.32.32.32.32.42.5
Real estate2.62.52.42.32.42.52.32.32.42.32.32.42.5
Goods rental & Leasing2.62.52.32.42.52.52.32.32.32.42.32.52.4
Wholesaling & Retailing2.72.52.42.42.52.52.42.42.42.42.52.62.7
Wholesaling2.92.62.42.42.52.52.42.42.52.52.62.72.7
Retailing2.52.52.32.42.42.52.32.32.32.32.42.42.6
Transport & Postal activities2.72.52.32.42.32.42.32.22.32.32.32.42.5
Information communication2.42.32.22.22.12.32.12.12.12.22.22.32.3
Communications2.72.52.32.32.32.62.52.22.52.52.52.62.7
Information services2.42.32.22.12.12.322.12222.12
Other information communication2.42.22.22.22.12.22.22.12.22.32.32.42.4
Electric & Gas utilities2.52.32.22.22.22.32222.122.12.1
Services for businesses2.72.62.52.52.52.62.42.42.42.32.42.52.5
Services for individuals2.72.62.42.32.42.42.32.42.42.32.42.62.6
Accomodations, Eating & Drinking services2.92.82.62.82.62.72.72.72.72.52.733.1
Mining & Quarrying of stone and gravel2.72.62.42.62.42.52.32.32.62.62.52.83.2
Large Enterprises41
All industries2.32.22.12.12.12.122222.12.12.1
Manufacturing2.32.22.122.12.1222.12.12.12.12.2
Textiles2.52.42.32.321.922.12.21.92.522.4
Lumber & Wood products1.81.91.71.61.92.31.91.82.11.61.71.81.8
Pulp & Paper2.92.72.42.42.32.52.22.42.42.62.22.22.2
Chemicals2.32.11.922.121.7221.91.91.91.9
Petroleum & Coal products2.50.71.81.81.81.41.21.21.41.411.71.2
Ceramics, Stone & Clay2.122.1222.22.3222.22.42.32.6
Iron & Steel2.72.22.42.52.62.622.42.82.92.72.82.5
Nonferrous metals2.52.31.92.12.22.62.42.52.52.61.71.91.9
Food & Beverages2.121.91.9221.81.82.12.11.822.1
Processed metals2.72.32.12.52.72.42.22.12.12.12.12.32.6
General-purpose, Production & Business oriented machinery2.42.32.32.22.22.32.22.32.32.32.32.42.5
General-purpose machinery2.52.62.42.32.52.62.52.82.82.72.832.9
Production machinery2.42.12.221.921.91.9222.12.22.4
Business oriented machinery2.22.32.22.42.32.42.52.42.32.31.922.3
Electrical machinery221.81.71.81.81.71.71.91.8222.2
Transportation machinery2.32.32.22.22.12.22.22.322.12.22.12
Shipbuilding, Heavy machinery & Other transportation machinery2.62.52.72.62.52.62.52.52.42.42.22.32.5
Motor vehicles2.12.32.12.122.12.22.21.92.12.12.11.9
Other manufacturing2.52.42.12.11.92.11.91.91.72.12.12.12.3
Basic materials2.42.12.12.12.12.222.12.22.12.122.1
Processing2.32.22.122.12.12222.12.12.12.3
Nonmanufacturing2.32.22.12.12.12.121.922222
Construction2.42.32.12.22.22.11.922.1221.91.8
Real estate, Goods rental & Leasing21.821.92.221.81.81.821.91.81.8
Real estate1.81.821.9221.71.81.821.81.82
Goods rental & Leasing2.41.92.122.42.12.11.91.71.821.81.6
Wholesaling & Retailing2.42.32.22.32.22.1222.12.12.22.22.3
Wholesaling2.42.32.32.32.42.32.22.12.22.12.12.22.2
Retailing2.42.32.22.221.91.81.922.22.22.22.4
Transport & Postal activities2.22.22.12.22.1221.921.81.71.71.8
Information communication22.11.91.81.81.91.81.61.81.71.81.71.7
Communications2.31.91.81.91.61.81.61.51.71.41.41.41.2
Information services22.221.81.92.11.91.61.921.91.91.9
Other information communication22.21.61.81.91.51.71.61.61.41.51.31.4
Electric & Gas utilities1.92.21.91.91.921.81.71.71.92.222.1
Services for businesses2.32.42.22.32.12.31.81.91.92.122.21.9
Services for individuals1.91.82.11.922.32.222.22222.2
Accomodations, Eating & Drinking services2.52.62.52.72.22.62.52.92.62.52.72.73
Mining & Quarrying of stone and gravel22.11.71.71.51.81.21.21.51.811.61.8
Medium-sized Enterprises41
All industries2.62.42.32.32.32.42.22.22.32.22.32.42.5
Manufacturing2.72.52.42.42.42.52.32.32.42.42.42.52.6
Textiles2.82.52.42.42.42.62.32.32.62.52.32.42.5
Lumber & Wood products2.82.42.32.42.32.62.42.52.52.32.92.52.4
Pulp & Paper2.82.22.11.92.12.321.822.12.42.52
Chemicals2.72.42.32.42.22.422.12.32.222.42.2
Petroleum & Coal products3.52.52.82.32.52.62.11.822.22.82.92.8
Ceramics, Stone & Clay2.92.82.62.92.92.82.42.52.62.82.92.93.3
Iron & Steel2.92.42.42.52.72.72.72.932.82.62.62.7
Nonferrous metals2.41.91.91.92.22.12.122.122.12.22.3
Food & Beverages2.72.72.52.52.62.72.52.42.62.62.72.82.9
Processed metals2.42.11.92.12.12.222.12.12.12.32.42.5
General-purpose, Production & Business oriented machinery2.62.52.42.42.42.52.32.22.42.42.52.52.6
General-purpose machinery2.72.42.22.32.42.42.22.32.42.22.52.42.4
Production machinery2.72.72.72.62.52.62.32.12.42.52.42.62.7
Business oriented machinery2.42.42.42.22.22.32.42.42.52.42.52.52.6
Electrical machinery2.62.52.42.32.22.32.32.22.32.32.32.62.4
Transportation machinery2.72.42.42.42.32.42.32.22.22.22.22.42.6
Shipbuilding, Heavy machinery & Other transportation machinery3.12.62.52.72.62.62.72.42.42.52.22.62.7
Motor vehicles2.32.32.42.22.12.22.1221.92.32.32.5
Other manufacturing3.12.72.72.832.82.62.82.72.52.52.52.7
Basic materials2.82.42.42.42.42.52.32.32.42.42.42.52.5
Processing2.72.52.42.42.42.52.32.32.42.42.42.52.6
Nonmanufacturing2.42.32.22.22.32.32.22.22.22.12.22.32.4
Construction2.62.52.42.42.52.42.42.42.42.32.42.52.5
Real estate, Goods rental & Leasing2.42.32.22.12.22.32.22.12.222.12.22.3
Real estate2.42.32.32.22.22.22.12.12.2222.22.4
Goods rental & Leasing2.42.42.122.22.42.32.22.12.12.12.22.1
Wholesaling & Retailing2.42.22.12.12.22.32.12.12.22.12.32.42.4
Wholesaling2.62.42.22.22.32.32.22.22.32.22.42.52.5
Retailing2222.12.22.2222.122.22.22.3
Transport & Postal activities2.42.42.22.12.22.22.12.12.22.22.12.22.4
Information communication2.32.12.12.222.322222.12.12.1
Communications2.52.62.52.42.432.91.92.62.92.42.22.3
Information services2.52.32.12.222.31.82.11.91.91.922
Other information communication2.11.922.122.221.92.12.12.12.22.2
Electric & Gas utilities2.22.11.91.91.92.11.81.81.71.91.81.81.8
Services for businesses2.22.22.22.12.32.32.12.22.12222.1
Services for individuals2.82.72.42.42.52.62.22.32.42.22.32.52.6
Accomodations, Eating & Drinking services2.92.92.72.72.72.72.62.62.82.52.52.92.9
Mining & Quarrying of stone and gravel2.32.62.62.62.52.62.72.83.13.12.83.23.4
Small Enterprises41
All industries32.82.62.62.62.72.62.62.72.62.62.82.9
Manufacturing32.82.62.62.62.72.62.62.72.62.72.82.9
Textiles32.62.42.52.62.72.62.72.82.72.83.13.1
Lumber & Wood products3.43.12.82.82.732.42.42.82.62.72.82.8
Pulp & Paper3.12.52.32.52.32.52.32.22.22.12.12.42.6
Chemicals3.42.82.72.62.62.82.82.82.82.82.62.82.8
Petroleum & Coal products3.23.22.82.62.83.32.83.13.12.9333.1
Ceramics, Stone & Clay3.12.82.72.72.732.92.72.82.72.62.93.1
Iron & Steel2.82.72.42.22.22.62.42.52.82.52.52.42.7
Nonferrous metals2.82.92.52.52.32.42.32.32.52.62.52.62.9
Food & Beverages3.22.92.92.82.92.92.62.52.72.52.72.93.1
Processed metals3.22.92.62.52.52.62.42.52.72.62.62.62.7
General-purpose, Production & Business oriented machinery2.92.72.62.72.62.72.72.72.72.72.82.93
General-purpose machinery2.82.72.52.62.72.92.732.82.93.23.13.2
Production machinery2.92.72.62.62.62.72.72.72.72.72.72.82.8
Business oriented machinery32.92.82.82.62.62.62.52.72.62.83.13.1
Electrical machinery2.82.92.82.72.82.72.82.72.72.52.72.82.8
Transportation machinery32.82.62.62.72.72.62.72.82.62.52.62.5
Shipbuilding, Heavy machinery & Other transportation machinery3.332.82.92.92.92.62.82.92.62.72.72.8
Motor vehicles2.72.42.32.32.32.52.62.42.62.62.32.52.3
Other manufacturing3.12.82.62.72.72.82.72.62.72.52.62.93
Basic materials3.12.82.52.52.52.82.62.62.72.62.62.82.9
Processing32.82.72.72.72.72.72.62.72.62.72.82.9
Nonmanufacturing2.92.72.62.62.62.72.62.62.62.62.62.82.8
Construction3.12.92.72.82.82.82.72.72.82.72.72.93
Real estate, Goods rental & Leasing2.82.82.62.62.62.82.52.52.62.62.62.72.7
Real estate2.82.92.62.52.62.92.52.52.62.62.62.72.7
Goods rental & Leasing2.82.62.52.72.72.72.42.52.52.62.42.72.7
Wholesaling & Retailing2.92.72.52.62.62.72.52.62.62.62.72.82.9
Wholesaling32.72.62.62.62.62.52.62.72.62.82.93
Retailing2.72.72.52.62.72.82.62.62.52.52.52.52.8
Transport & Postal activities32.72.42.62.52.72.62.52.52.52.62.82.7
Information communication2.72.52.42.42.42.52.52.42.42.52.52.62.7
Communications32.72.52.52.62.82.82.72.83.12.93.13.3
Information services2.52.52.42.32.42.52.32.32.22.12.22.22.2
Other information communication2.82.62.52.52.42.52.62.52.52.72.72.93
Electric & Gas utilities2.92.72.62.52.62.62.32.42.42.42.12.62.4
Services for businesses32.82.72.72.72.72.62.62.62.52.52.72.7
Services for individuals2.72.62.42.32.42.32.42.52.42.32.52.72.7
Accomodations, Eating & Drinking services2.92.82.62.92.62.72.72.82.72.62.83.13.2
Mining & Quarrying of stone and gravel32.72.52.82.52.62.32.32.62.52.72.83.3

Latest reading

All industries stood at 2.7 in Q2 2026. That is +3.8% from Q1 2026 and +12.5% from a year earlier. The series on this page is quarterly and runs from Q1 2014 to Q2 2026. Source: Bank of Japan – Time-Series Data Search.

Latest
2.7
Q2 2026
vs previous period
+3.8%
Q1 2026
vs a year earlier
+12.5%

About this data

Tankan survey of enterprises' inflation expectations — outlook for general prices, 1 year ahead — average expected rate of change by enterprise size and industry. 164 series. Source: Bank of Japan, Time-Series Data Search.

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