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Japan Firms' Inflation Outlook, 5 Years

Tankan survey of enterprises' inflation expectations — outlook for general prices, 5 years 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, 13:55Curated by Bui Thanh PhucAbout this data ↓

IndicatorQ2-2026Q1-2026Q4-2025Q3-2025Q2-2025Q1-2025Q4-2024Q3-2024Q2-2024Q1-2024Q4-2023Q3-2023Q2-2023
Outlook for General Prices (5 years ahead)(The Average of Enterprises' Inflation Outlook)4
All Enterprises41
All industries2.62.52.42.42.32.32.22.22.22.12.12.12.1
Manufacturing2.62.52.42.42.32.42.22.22.22.12.12.12
Textiles2.62.32.22.22.12.32.22.32.32.22.32.32.5
Lumber & Wood products3.12.72.72.42.52.62.72.62.32.72.32.12
Pulp & Paper2.52.42.32.32.12.42.3221.61.81.61.7
Chemicals2.42.32.12.22.22.11.922.121.91.71.7
Petroleum & Coal products3.22.82.72.422.1222.22.42.32.52.2
Ceramics, Stone & Clay2.62.32.52.42.42.42.12.32.22.12.12.22.1
Iron & Steel2.82.52.32.62.52.42.52.52.62.42.32.12
Nonferrous metals2.52.62.62.62.42.42.22.122.22.22.12.1
Food & Beverages2.72.52.62.62.52.62.42.32.52.22.12.12.3
Processed metals2.82.72.32.32.22.222.22.121.821.9
General-purpose, Production & Business oriented machinery2.82.52.42.42.32.32.32.32.32.22.12.22
General-purpose machinery2.72.52.22.22.22.32.22.32.32.12.32.42
Production machinery2.82.52.52.42.32.32.42.32.22.2221.8
Business oriented machinery2.82.52.42.62.52.52.32.32.42.22.22.32.2
Electrical machinery2.42.52.32.32.32.32.322222.12
Transportation machinery2.52.32.32.22.22.32.22.22.3222.11.9
Shipbuilding, Heavy machinery & Other transportation machinery2.82.62.52.52.62.82.62.72.52.32.12.12.1
Motor vehicles2.22.12.121.91.921.92.11.91.921.8
Other manufacturing2.82.62.42.52.42.52.42.42.32.22.12.22.2
Basic materials2.62.42.42.42.32.32.22.22.22.22.122
Processing2.72.52.42.42.32.42.32.22.22.122.12
Nonmanufacturing2.62.52.42.42.32.32.22.22.22.12.12.12.1
Construction2.82.62.52.52.42.42.32.32.32.32.22.22.2
Real estate, Goods rental & Leasing2.52.42.42.22.22.32.22.22.22.1222.2
Real estate2.42.32.52.12.22.222.12.121.922.1
Goods rental & Leasing2.72.62.42.42.32.32.42.32.42.22.22.12.3
Wholesaling & Retailing2.52.42.32.42.32.32.32.22.32.22.12.12.1
Wholesaling2.62.42.42.32.32.32.32.32.32.32.32.22.1
Retailing2.42.22.22.42.42.42.22.22.22.21.922.1
Transport & Postal activities2.62.52.32.32.32.42.22.12.12.1222
Information communication2.32.32.22.222.122221.91.81.7
Communications2.82.632.72.72.62.322.32.52.322
Information services2.32.32.22.121.91.821.91.81.81.81.8
Other information communication2.22.122.222.12.12.12.12.11.91.71.6
Electric & Gas utilities2.42.52.22.22.12.11.81.81.71.61.51.41.5
Services for businesses2.62.52.52.62.52.52.42.32.22.12.32.12
Services for individuals2.72.72.52.42.52.42.22.12.122.12.22.1
Accomodations, Eating & Drinking services2.92.82.62.82.72.62.62.62.52.32.32.72.6
Mining & Quarrying of stone and gravel3.12.62.62.72.221.71.71.91.81.92.12.3
Large Enterprises41
All industries2.1221.91.91.81.71.71.71.61.51.61.5
Manufacturing2.221.91.91.91.91.71.81.71.51.61.71.6
Textiles2.41.91.61.61.41.71.71.51.70.821.31.4
Lumber & Wood products2.63.52.82.83.12.822.81.91.710.80.7
Pulp & Paper22.222.22.12.42.32.32.11.71.41.91.4
Chemicals221.822.12.11.51.81.81.71.51.21.4
Petroleum & Coal products20.70.80.810.80.70.310.71.311.5
Ceramics, Stone & Clay1.91.82.11.41.61.611.310.91.51.41.5
Iron & Steel2.62.42.632.93.72.82.52.92.82.21.91.7
Nonferrous metals1.8232.52.633.12.62.21.71.71.71.3
Food & Beverages2.11.61.722.11.81.71.82.11.81.61.61.3
Processed metals2.32.62.621.82.11.91.71.51.50.91.61.6
General-purpose, Production & Business oriented machinery2.121.81.921.91.81.71.71.61.71.91.4
General-purpose machinery2.32.322.12.32.21.91.82.21.71.72.71.6
Production machinery2.121.91.821.71.71.41.31.51.61.51.4
Business oriented machinery21.81.51.91.82.11.91.81.61.51.91.61.2
Electrical machinery2.12.11.81.91.81.81.61.61.71.41.81.91.9
Transportation machinery2.11.81.71.51.51.41.31.41.31.11.61.51.6
Shipbuilding, Heavy machinery & Other transportation machinery2.31.92.12.21.821.71.61.61.621.52
Motor vehicles21.81.51.41.51.31.21.41.311.51.61.5
Other manufacturing2.72.222.11.92.11.721.71.91.82.22.3
Basic materials2.12.12.12.12.12.21.81.91.91.61.61.41.4
Processing2.221.81.91.91.81.71.71.71.51.61.81.6
Nonmanufacturing2.1221.91.91.71.71.61.61.61.41.51.4
Construction2.22.1222.11.91.51.61.81.51.41.21.2
Real estate, Goods rental & Leasing1.91.81.81.31.61.41.41.51.31.51.31.51.6
Real estate1.91.71.91.31.61.31.31.51.41.51.51.71.6
Goods rental & Leasing1.821.61.11.51.61.41.411.30.91.11.4
Wholesaling & Retailing2.32.122.11.91.82.121.821.51.61.3
Wholesaling2.42.32.12.22.11.92.22.11.92.11.81.81.4
Retailing2.21.921.91.81.71.81.81.71.81.21.51.2
Transport & Postal activities2.12.122.11.71.921.41.61.31.31.51.5
Information communication22.22.11.821.71.61.71.31.31.21.21.1
Communications1.31.31.81.31.81.20.80.70.80.91.3-10
Information services2.12.42.222.11.91.61.81.51.41.21.71.5
Other information communication221.81.41.81.41.91.81.21.21.10.80.3
Electric & Gas utilities1.41.81.31.21.41.41.110.91.11.21.11
Services for businesses1.81.81.821.71.61.21.11.71.51.61.31.1
Services for individuals2.22.12.21.82.11.81.82.12.21.91.71.51.4
Accomodations, Eating & Drinking services3.13.12.73.52.62.92.12.22.12.31.82.32.3
Mining & Quarrying of stone and gravel1.80.80.80.80.810.8111.40.61.30.7
Medium-sized Enterprises41
All industries2.52.42.32.32.22.22.12.12.121.921.9
Manufacturing2.62.42.32.32.22.22.12.12.12221.9
Textiles2.32.22.121.81.92.22.2221.82.22.2
Lumber & Wood products2.82.22.41.92.32.62.52.42.12.52.31.71.8
Pulp & Paper3.12.82.72.82.82.82.21.72.22.32.21.81.5
Chemicals2.42.31.92.12.121.81.621.91.91.41.4
Petroleum & Coal products2.63.133.12.221.61.51.51.21.82.12
Ceramics, Stone & Clay2.72.52.92.62.42.122.1222.12.22.3
Iron & Steel2.61.81.82.22.21.81.91.921.6221.9
Nonferrous metals2.52.42.22.11.82.21.81.51.72.12.51.72
Food & Beverages2.52.42.42.52.32.72.42.22.32.22.12.22.2
Processed metals2.421.81.922.11.91.91.7222.11.7
General-purpose, Production & Business oriented machinery2.82.52.42.32.32.22.22.12.22.11.822
General-purpose machinery2.82.42.22.22.22.422.22.22.22.21.91.8
Production machinery32.72.72.32.32.22.32.1221.92.22.2
Business oriented machinery2.52.32.32.32.32.12.12.12.22.11.51.91.9
Electrical machinery2.62.52.42.22.22.12.11.91.92.11.81.81.7
Transportation machinery2.42.42.42.32.12.32.32.42.41.9222
Shipbuilding, Heavy machinery & Other transportation machinery2.72.62.42.72.632.93.12.72.21.91.62.2
Motor vehicles2.12.32.421.81.91.922.21.822.11.8
Other manufacturing2.72.72.52.62.72.62.42.62.62.22.22.12
Basic materials2.62.32.22.32.22.121.92221.91.9
Processing2.62.52.42.32.32.32.22.22.22.1221.9
Nonmanufacturing2.42.32.32.22.22.222221.91.92
Construction2.52.52.22.22.22.11.92.122222.1
Real estate, Goods rental & Leasing2.52.22.42.22.22.32.12.22.221.91.82.1
Real estate2.42.12.42.32.22.32.12.12.221.71.72.2
Goods rental & Leasing2.72.52.322.12.32.22.32.22.12.11.82
Wholesaling & Retailing2.32.22.12.12.122221.91.921.9
Wholesaling2.42.32.32.22.1221.92.11.91.92.11.9
Retailing2.121.81.92.222.12.121.91.81.82
Transport & Postal activities2.62.42.32.22.12.221.9221.91.91.9
Information communication2.22.12.12.2221.921.921.91.81.8
Communications3.32.7332.62.92.71.933.32.12.31.7
Information services2.32.32.32.32.121.92.121.91.91.91.9
Other information communication1.91.91.62.11.81.91.81.81.61.71.91.61.8
Electric & Gas utilities221.91.91.921.91.71.71.71.61.31.5
Services for businesses2.42.32.42.32.32.3221.8221.91.8
Services for individuals2.92.72.52.52.62.52.12.22.21.922.12.1
Accomodations, Eating & Drinking services2.92.42.72.72.62.42.52.72.32.32.32.62.5
Mining & Quarrying of stone and gravel2.632.62.932.621.91.41.6222
Small Enterprises41
All industries2.82.62.52.62.52.52.52.42.42.32.32.32.3
Manufacturing2.82.72.62.62.52.52.52.42.52.42.32.32.3
Textiles2.82.52.42.42.42.62.32.42.52.52.62.52.9
Lumber & Wood products3.42.92.82.42.42.52.92.62.532.42.52.3
Pulp & Paper2.32.22.12.11.82.22.32.11.81.21.81.31.9
Chemicals2.72.42.42.42.22.32.22.32.32.22.221.9
Petroleum & Coal products3.52.92.92.52.22.52.32.22.42.82.52.82.3
Ceramics, Stone & Clay2.62.42.42.52.52.72.42.62.52.42.32.32.1
Iron & Steel2.92.82.52.72.52.52.72.72.82.62.52.22.1
Nonferrous metals2.72.72.72.82.52.42.22.22.12.42.22.32.2
Food & Beverages32.82.92.82.72.82.62.52.72.42.42.22.7
Processed metals3.132.52.62.42.42.12.42.62.222.12.2
General-purpose, Production & Business oriented machinery2.92.62.62.62.52.52.62.62.62.42.42.42.2
General-purpose machinery2.82.62.42.22.22.32.42.52.42.22.72.62.4
Production machinery2.92.62.72.62.52.42.72.62.52.42.12.11.8
Business oriented machinery3.22.82.832.82.82.62.62.82.52.82.72.8
Electrical machinery2.52.72.62.72.72.72.72.42.22.22.22.42.2
Transportation machinery2.72.52.42.42.42.62.62.42.52.52.22.32
Shipbuilding, Heavy machinery & Other transportation machinery32.72.62.52.72.82.62.62.62.42.22.42
Motor vehicles2.42.32.22.32.22.42.62.22.52.52.22.31.9
Other manufacturing2.92.72.52.52.42.62.72.42.32.32.22.32.3
Basic materials2.82.62.52.52.42.52.42.42.42.42.32.32.2
Processing2.92.72.62.62.52.62.62.52.52.32.32.32.3
Nonmanufacturing2.82.62.52.52.52.52.42.42.42.32.32.32.3
Construction32.62.62.62.52.52.42.42.42.42.32.42.3
Real estate, Goods rental & Leasing2.72.62.62.32.32.52.32.32.42.22.22.22.3
Real estate2.52.52.72.12.32.52.22.22.22.12.12.22.2
Goods rental & Leasing2.82.62.52.72.42.52.52.52.62.42.42.32.5
Wholesaling & Retailing2.62.52.52.52.52.52.42.42.42.42.42.32.3
Wholesaling2.72.52.52.42.52.42.42.42.52.52.52.42.4
Retailing2.62.42.42.72.52.72.42.42.32.32.22.22.3
Transport & Postal activities2.72.72.42.52.62.62.52.42.32.32.32.22.3
Information communication2.62.42.42.32.12.32.22.22.32.32.121.9
Communications2.82.83.43.23.22.92.72.72.732.62.42.5
Information services2.42.221.91.71.91.81.91.91.91.91.91.8
Other information communication2.72.42.52.52.22.42.52.42.62.52.11.91.7
Electric & Gas utilities2.932.72.62.42.32.12.121.81.321.9
Services for businesses2.82.72.72.72.72.72.72.62.52.32.52.42.3
Services for individuals2.62.82.52.42.42.42.32222.22.32.3
Accomodations, Eating & Drinking services2.82.82.62.82.72.72.82.62.62.32.52.82.7
Mining & Quarrying of stone and gravel3.72.83.13.22.321.91.82.52.12.42.52.8

Latest reading

All industries stood at 2.6 in Q2 2026. That is +4.0% from Q1 2026 and +13.0% 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
2.6
Q2 2026
vs previous period
+4.0%
Q1 2026
vs a year earlier
+13.0%

About this data

Tankan survey of enterprises' inflation expectations — outlook for general prices, 5 years 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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