Japan Firms' Output Price Outlook, 3 Years
Tankan survey of enterprises' inflation expectations — outlook for output prices, 3 years ahead — average expected rate of change by enterprise size and industry. 164 series.
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Outlook for Output Prices (3 years ahead)(The Average of Enterprises' Inflation Outlook)4 | ||||||||||||||
| All Enterprises41 | ||||||||||||||
| All industries | 5.1 | 4.6 | 4.3 | 4.3 | 4.3 | 4.4 | 4.2 | 4.1 | 4.1 | 4 | 3.7 | 3.8 | 3.8 | |
| Manufacturing | 5.5 | 4.7 | 4.4 | 4.4 | 4.4 | 4.6 | 4.3 | 4.2 | 4.2 | 4.1 | 3.8 | 3.9 | 3.9 | |
| Textiles | 5.4 | 4.3 | 4.7 | 4.7 | 4.7 | 4.9 | 5.3 | 4.9 | 5.2 | 4.7 | 5.2 | 4.8 | 5 | |
| Lumber & Wood products | 6.7 | 5.4 | 5 | 4.8 | 4.8 | 4.4 | 3.9 | 3.6 | 3.4 | 2.9 | 3 | 3 | 3.6 | |
| Pulp & Paper | 7 | 6.3 | 6 | 5.8 | 4.9 | 4.9 | 5.1 | 5.2 | 5.3 | 4.5 | 3.7 | 3.7 | 4.4 | |
| Chemicals | 3.8 | 3.4 | 2.8 | 3 | 3 | 3.4 | 2.9 | 2.7 | 2.8 | 2.6 | 2.6 | 2.5 | 2.3 | |
| Petroleum & Coal products | 6 | 5.1 | 4.8 | 4.7 | 5.2 | 5 | 4.2 | 4.6 | 5 | 4.3 | 4.6 | 5 | 4 | |
| Ceramics, Stone & Clay | 6.8 | 5.9 | 5.6 | 5.8 | 5.8 | 6.1 | 5.7 | 5.8 | 6.1 | 5.7 | 5 | 5.6 | 5.4 | |
| Iron & Steel | 5.3 | 4.6 | 4 | 4 | 4.2 | 4 | 4.5 | 4.4 | 4.5 | 5.2 | 4.2 | 4 | 3.6 | |
| Nonferrous metals | 4.7 | 4.5 | 4.1 | 3.7 | 3.7 | 4.1 | 3.7 | 3.3 | 3.2 | 3.1 | 3.2 | 2.8 | 2.6 | |
| Food & Beverages | 6.6 | 5.5 | 5.7 | 5.9 | 5.6 | 5.8 | 5.1 | 4.8 | 4.7 | 4.8 | 4.6 | 4.7 | 5 | |
| Processed metals | 6.2 | 5 | 4.4 | 4.1 | 4.8 | 4.7 | 4.5 | 4.9 | 4.4 | 4.3 | 3.8 | 4 | 4.4 | |
| General-purpose, Production & Business oriented machinery | 5.7 | 5 | 4.6 | 4.7 | 4.7 | 5 | 4.7 | 4.6 | 4.8 | 4.5 | 4 | 4.2 | 4.2 | |
| General-purpose machinery | 5.9 | 5.5 | 5.2 | 5.5 | 5.3 | 5.6 | 5 | 5.1 | 5.7 | 5 | 4.8 | 4.7 | 4.6 | |
| Production machinery | 5.9 | 4.9 | 4.4 | 4.4 | 4.7 | 5 | 4.7 | 4.6 | 4.7 | 4.4 | 3.9 | 4.3 | 4.3 | |
| Business oriented machinery | 5.2 | 4.6 | 4.2 | 4.6 | 4.2 | 4.7 | 4.4 | 4.1 | 3.9 | 4.2 | 3.5 | 3.6 | 3.7 | |
| Electrical machinery | 4.7 | 4.1 | 3.3 | 3.3 | 3.4 | 3.5 | 3.4 | 3.2 | 3.3 | 3.4 | 3 | 3.3 | 3 | |
| Transportation machinery | 4.8 | 4.4 | 4.2 | 4 | 3.9 | 4.1 | 3.8 | 3.8 | 3.8 | 3.7 | 3.3 | 3.5 | 3.3 | |
| Shipbuilding, Heavy machinery & Other transportation machinery | 6.3 | 5.5 | 5.6 | 5.6 | 5.3 | 5.5 | 5.2 | 5 | 4.7 | 4.8 | 4.4 | 4.5 | 4.3 | |
| Motor vehicles | 3.5 | 3.4 | 3.2 | 2.8 | 2.8 | 2.9 | 2.8 | 2.8 | 3.1 | 2.9 | 2.7 | 2.8 | 2.6 | |
| Other manufacturing | 5.5 | 4.4 | 4.4 | 4.5 | 4.3 | 4.6 | 4.5 | 4.6 | 4.5 | 4.4 | 4.3 | 4.7 | 4.5 | |
| Basic materials | 5.4 | 4.7 | 4.4 | 4.3 | 4.3 | 4.4 | 4.3 | 4.2 | 4.3 | 4 | 3.8 | 3.8 | 3.7 | |
| Processing | 5.6 | 4.7 | 4.4 | 4.4 | 4.4 | 4.7 | 4.4 | 4.3 | 4.3 | 4.2 | 3.8 | 4 | 4 | |
| Nonmanufacturing | 4.9 | 4.6 | 4.2 | 4.2 | 4.1 | 4.3 | 4.1 | 4 | 4 | 3.8 | 3.6 | 3.7 | 3.7 | |
| Construction | 5.7 | 5.2 | 4.8 | 4.6 | 4.8 | 4.9 | 4.7 | 4.4 | 4.4 | 4.1 | 3.9 | 4 | 4.2 | |
| Real estate, Goods rental & Leasing | 4 | 3.4 | 3.2 | 3.2 | 3 | 3.3 | 3.1 | 2.9 | 2.9 | 2.8 | 2.5 | 2.4 | 2.5 | |
| Real estate | 3.7 | 3 | 2.7 | 2.6 | 2.4 | 2.5 | 2.4 | 2.1 | 2.2 | 2.2 | 2 | 1.8 | 2.1 | |
| Goods rental & Leasing | 4.5 | 4.2 | 4 | 4.1 | 3.9 | 4.5 | 4.3 | 4.3 | 4 | 3.8 | 3.3 | 3.3 | 3.1 | |
| Wholesaling & Retailing | 5.5 | 5 | 4.7 | 4.7 | 4.6 | 4.7 | 4.6 | 4.4 | 4.6 | 4.3 | 4.3 | 4.3 | 4.4 | |
| Wholesaling | 5.7 | 5.2 | 4.7 | 4.8 | 4.5 | 4.7 | 4.6 | 4.5 | 4.5 | 4.3 | 4.4 | 4.3 | 4.4 | |
| Retailing | 5.2 | 4.7 | 4.7 | 4.7 | 4.7 | 4.6 | 4.6 | 4.4 | 4.6 | 4.3 | 4.3 | 4.3 | 4.5 | |
| Transport & Postal activities | 4.7 | 4.7 | 4.1 | 4.2 | 4 | 4.3 | 4 | 4.2 | 4.3 | 4.1 | 3.9 | 4 | 3.8 | |
| Information communication | 3.9 | 3.7 | 3.4 | 3.2 | 3.3 | 3 | 3.1 | 2.9 | 2.9 | 2.9 | 2.6 | 2.7 | 2.6 | |
| Communications | 5 | 4.5 | 4.9 | 4.1 | 4.6 | 4.1 | 4.4 | 4.3 | 3.7 | 3.6 | 2.6 | 3.8 | 3.4 | |
| Information services | 4 | 3.7 | 3.4 | 3.3 | 3.2 | 3.1 | 3.4 | 3.3 | 3 | 3 | 2.4 | 2.7 | 2.2 | |
| Other information communication | 3.3 | 3.4 | 3.1 | 2.8 | 3 | 2.7 | 2.4 | 2.1 | 2.6 | 2.7 | 2.9 | 2.5 | 2.8 | |
| Electric & Gas utilities | 4 | 3.5 | 3.3 | 3.6 | 3.5 | 3.8 | 2.9 | 2.8 | 2.8 | 2.7 | 1.9 | 2.4 | 2 | |
| Services for businesses | 4.6 | 4.4 | 4.4 | 4.1 | 3.9 | 4 | 3.9 | 3.8 | 3.9 | 3.6 | 3.1 | 3.2 | 3.2 | |
| Services for individuals | 3.9 | 3.7 | 3.4 | 3.3 | 3.3 | 3.5 | 3.5 | 3.4 | 3.3 | 3.3 | 3.2 | 3.3 | 2.9 | |
| Accomodations, Eating & Drinking services | 5.8 | 6 | 5.6 | 6 | 5.5 | 5.9 | 5.4 | 5.5 | 5.5 | 5.5 | 5.6 | 6 | 6 | |
| Mining & Quarrying of stone and gravel | 7.4 | 6.4 | 4.4 | 4.2 | 4 | 4.2 | 3.4 | 3.1 | 4.4 | 3.7 | 4.3 | 4 | 3.8 | |
| Large Enterprises41 | ||||||||||||||
| All industries | 4.1 | 3.6 | 3.2 | 3.3 | 3.1 | 3.2 | 3.1 | 3.1 | 3.1 | 2.8 | 2.7 | 2.9 | 2.8 | |
| Manufacturing | 4.3 | 3.5 | 3.2 | 3.2 | 3.1 | 3.4 | 3.2 | 3.1 | 3.2 | 2.8 | 2.8 | 2.9 | 2.8 | |
| Textiles | 4.5 | 4 | 4.6 | 5 | 2.5 | 3.2 | 5 | 4.6 | 4.6 | 2.9 | 4.2 | 3.1 | 4 | |
| Lumber & Wood products | 6.5 | 5 | 3.9 | 5 | 5 | 5 | 4 | 4.5 | 4.5 | 3 | 2.3 | 3.2 | 4.5 | |
| Pulp & Paper | 6.5 | 7.7 | 6.5 | 6.5 | 5.8 | 6.2 | 5.7 | 6 | 6 | 5.4 | 2.9 | 3.8 | 4.3 | |
| Chemicals | 2.4 | 1.3 | 0.3 | 0.7 | 0.5 | 1.1 | 0.6 | 0.6 | 0.6 | 0.3 | 0.4 | 0.2 | 0.3 | |
| Petroleum & Coal products | 3.3 | 3.3 | 2.5 | 2.5 | 2.5 | 2.5 | -5 | -5 | -3.8 | -2.5 | -2 | 1 | 1 | |
| Ceramics, Stone & Clay | 7.1 | 5.3 | 5.3 | 5 | 4.7 | 5.3 | 5 | 5 | 5.7 | 4.5 | 3.1 | 4 | 5 | |
| Iron & Steel | 6.5 | 5.9 | 5.9 | 6.2 | 6.4 | 7 | 6.2 | 5 | 5.4 | 6.3 | 4 | 4.7 | 4.4 | |
| Nonferrous metals | 5.9 | 3.9 | 5 | 4.2 | 5 | 4.7 | 3.4 | 3.1 | 4 | 2.5 | 2.8 | 2.2 | 1.9 | |
| Food & Beverages | 5 | 4.3 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 | 4 | 3.4 | 3.4 | 4.1 | 3.2 | 3.8 | |
| Processed metals | 4.8 | 4.3 | 4.3 | 3.8 | 4.5 | 4.4 | 5.2 | 5 | 4.8 | 3.5 | 3.9 | 4 | 4.6 | |
| General-purpose, Production & Business oriented machinery | 4.8 | 4.3 | 3.7 | 4 | 3.8 | 3.9 | 4.3 | 3.9 | 4.2 | 4.2 | 4 | 4.3 | 3.5 | |
| General-purpose machinery | 4.7 | 4.7 | 4.3 | 4.8 | 4.5 | 4.3 | 4.8 | 4.7 | 5.3 | 4.7 | 4.8 | 5.4 | 4.6 | |
| Production machinery | 5.5 | 4.6 | 3.7 | 3.3 | 3.7 | 3.6 | 4 | 3.4 | 3.7 | 4 | 4 | 4.3 | 4.1 | |
| Business oriented machinery | 3.7 | 3 | 2.9 | 4.2 | 2.9 | 4 | 4 | 3.7 | 3 | 3.5 | 2.9 | 3.2 | 1.1 | |
| Electrical machinery | 3.7 | 2.8 | 2.2 | 2.1 | 2.2 | 2.6 | 2.1 | 2.3 | 2.4 | 2.1 | 1.8 | 2.4 | 2.3 | |
| Transportation machinery | 3.3 | 3 | 2.7 | 2.2 | 2 | 2.3 | 2.6 | 2.5 | 2.5 | 2.2 | 2.5 | 2.3 | 1.7 | |
| Shipbuilding, Heavy machinery & Other transportation machinery | 5.4 | 5.4 | 4.6 | 4.6 | 4 | 4.2 | 3.8 | 3.8 | 4.2 | 3.8 | 3 | 2.1 | 2 | |
| Motor vehicles | 2.6 | 2.3 | 2.2 | 1.6 | 1.5 | 1.7 | 2.3 | 2.1 | 2 | 1.7 | 2.3 | 2.3 | 1.6 | |
| Other manufacturing | 4.5 | 2.9 | 3.4 | 3.5 | 3.4 | 3.7 | 3 | 3.1 | 3.7 | 3.8 | 5 | 4.5 | 4.2 | |
| Basic materials | 4.4 | 3.4 | 3 | 3.2 | 2.8 | 3.3 | 2.7 | 2.6 | 2.9 | 2.2 | 1.9 | 2.1 | 2.5 | |
| Processing | 4.3 | 3.6 | 3.2 | 3.2 | 3.2 | 3.4 | 3.4 | 3.3 | 3.3 | 3.1 | 3.2 | 3.3 | 3 | |
| Nonmanufacturing | 3.9 | 3.7 | 3.3 | 3.4 | 3.2 | 3.1 | 3.1 | 3 | 3 | 2.8 | 2.7 | 2.8 | 2.8 | |
| Construction | 4.6 | 4.5 | 3.7 | 3.5 | 3.7 | 3.5 | 3.4 | 3 | 3.4 | 3 | 2.3 | 2 | 2.3 | |
| Real estate, Goods rental & Leasing | 3.7 | 3 | 3.3 | 3.1 | 3.1 | 3.2 | 3.5 | 3.5 | 2.8 | 3.3 | 3.2 | 2.7 | 3.1 | |
| Real estate | 3.3 | 2.3 | 3 | 2.8 | 2.8 | 2.6 | 3.2 | 2.8 | 2.4 | 3 | 3.2 | 2.6 | 3.1 | |
| Goods rental & Leasing | 4.6 | 4.6 | 4.2 | 3.8 | 4.2 | 5 | 4.3 | 5.4 | 3.8 | 3.9 | 3.2 | 3 | 3.2 | |
| Wholesaling & Retailing | 4.3 | 3.8 | 3.7 | 3.6 | 3 | 3 | 2.8 | 2.7 | 2.9 | 2.6 | 2.9 | 3.3 | 3.1 | |
| Wholesaling | 4.7 | 4.7 | 3.9 | 3.9 | 3.6 | 3.5 | 3.1 | 3 | 3.2 | 2.7 | 3.4 | 3.8 | 3 | |
| Retailing | 3.7 | 2.6 | 3.5 | 3.1 | 2.4 | 2.5 | 2.5 | 2.4 | 2.7 | 2.5 | 2.5 | 2.8 | 3.3 | |
| Transport & Postal activities | 3.3 | 3.5 | 2.6 | 3.1 | 2.8 | 3.4 | 3.9 | 3.6 | 3.8 | 3.1 | 2.7 | 3.2 | 3.3 | |
| Information communication | 3.7 | 3.7 | 2.7 | 3 | 3.1 | 2.3 | 2.1 | 2.3 | 2.1 | 2.1 | 1.7 | 1.5 | 1.3 | |
| Communications | 2 | 1 | 1.9 | 1.9 | 2.5 | 0.7 | 0.7 | 0.6 | 0 | 0.6 | 0 | 0 | 1.2 | |
| Information services | 4.8 | 4.7 | 3.7 | 3.7 | 3.3 | 3.6 | 3.4 | 3.6 | 3.2 | 3.4 | 3 | 3.3 | 2.3 | |
| Other information communication | 1.9 | 2.8 | 1 | 1.7 | 2.7 | 0.6 | 0 | 0.6 | 0.9 | 0.3 | -0.3 | -0.9 | -0.3 | |
| Electric & Gas utilities | 2.8 | 1.8 | 1.5 | 2.8 | 2.8 | 1.8 | 1.7 | 2.1 | 1.3 | 2.1 | 1.9 | 2.5 | 1.2 | |
| Services for businesses | 3.8 | 3.8 | 4.3 | 4 | 3.1 | 3.2 | 3.5 | 3.4 | 3.1 | 3.3 | 1.8 | 1.8 | 1.8 | |
| Services for individuals | 2.8 | 3.4 | 2.9 | 3 | 3.2 | 2 | 2.5 | 3.2 | 3.7 | 3.2 | 3.2 | 2.8 | 3.3 | |
| Accomodations, Eating & Drinking services | 5.3 | 4.7 | 5 | 6.1 | 5 | 5.3 | 5.3 | 4.5 | 3.9 | 4.4 | 5.6 | 6.6 | 6.8 | |
| Mining & Quarrying of stone and gravel | 4.3 | 2.5 | -1.3 | -1.3 | -1.3 | -1.3 | 0 | -2.5 | 2 | -4.2 | -1 | 1.3 | -2.5 | |
| Medium-sized Enterprises41 | ||||||||||||||
| All industries | 4.6 | 4.1 | 3.9 | 3.9 | 3.8 | 4.1 | 3.8 | 3.7 | 3.7 | 3.6 | 3.3 | 3.3 | 3.3 | |
| Manufacturing | 5.2 | 4.3 | 4.1 | 4 | 4 | 4.2 | 4 | 3.8 | 3.8 | 3.9 | 3.4 | 3.6 | 3.4 | |
| Textiles | 5.5 | 3.2 | 4.1 | 3.1 | 3.4 | 4.1 | 5.3 | 4.6 | 4.1 | 4.3 | 4.6 | 4.2 | 3.2 | |
| Lumber & Wood products | 5.2 | 4.7 | 4.4 | 5.6 | 5 | 5.6 | 4.4 | 3.2 | 3.3 | 2.5 | 1.1 | 1.4 | 0.7 | |
| Pulp & Paper | 7.4 | 6.2 | 6.2 | 6.9 | 6 | 5 | 5.3 | 4.5 | 5.9 | 5 | 4.4 | 3.9 | 5 | |
| Chemicals | 3.5 | 3.3 | 2.4 | 3.4 | 3.6 | 3.7 | 3.4 | 3.3 | 3 | 2.7 | 2.7 | 3 | 2.6 | |
| Petroleum & Coal products | 4.4 | 4.5 | 4.6 | 5.9 | 5.9 | 5.6 | 3.9 | 3 | 5 | 3.2 | 3.9 | 3.9 | 1 | |
| Ceramics, Stone & Clay | 6 | 4.7 | 4.9 | 4.3 | 4.9 | 5.9 | 5.1 | 4.6 | 4.7 | 5 | 5 | 5 | 4.3 | |
| Iron & Steel | 5 | 3.4 | 3.4 | 3 | 3.1 | 2.3 | 2.6 | 3 | 3.5 | 4.4 | 3.1 | 2.9 | 1.5 | |
| Nonferrous metals | 3.4 | 3.2 | 1.7 | 2.3 | 2.2 | 2.3 | 2 | 1.4 | 0 | 0.9 | 1.5 | 1.7 | 0.6 | |
| Food & Beverages | 5.3 | 4.5 | 4.3 | 5.1 | 4.7 | 5.3 | 4.7 | 3.8 | 4 | 4.7 | 3.8 | 4.1 | 4.9 | |
| Processed metals | 5.4 | 4.5 | 4.3 | 3.7 | 4.9 | 4.6 | 4.8 | 4.8 | 4.3 | 4.5 | 4.1 | 4.1 | 4.1 | |
| General-purpose, Production & Business oriented machinery | 5.7 | 5 | 4.8 | 4.4 | 4.7 | 5 | 4.6 | 4.5 | 4.9 | 4.6 | 4 | 4.4 | 4.6 | |
| General-purpose machinery | 6.8 | 6 | 6.1 | 5.2 | 5.5 | 6.5 | 5.7 | 5.1 | 6 | 6 | 4.7 | 4.5 | 3.9 | |
| Production machinery | 5.5 | 4.4 | 4.1 | 3.9 | 4.2 | 4.6 | 3.8 | 3.9 | 4.5 | 4.2 | 3.7 | 4.7 | 4.5 | |
| Business oriented machinery | 5 | 5 | 4.5 | 4.4 | 4.7 | 4.2 | 4.7 | 4.5 | 4.2 | 3.8 | 3.8 | 4.1 | 5.3 | |
| Electrical machinery | 4.5 | 3.9 | 3.1 | 2.4 | 2.4 | 2.6 | 2.8 | 2.2 | 2.2 | 2.9 | 2 | 2.1 | 2 | |
| Transportation machinery | 4.9 | 4.3 | 3.8 | 3.7 | 3.7 | 4 | 3.1 | 3.7 | 3.3 | 3.6 | 3.4 | 3.5 | 3.3 | |
| Shipbuilding, Heavy machinery & Other transportation machinery | 5.4 | 3.8 | 4.3 | 5 | 4.5 | 5.4 | 4.6 | 5 | 3.5 | 4 | 4.8 | 5 | 4.8 | |
| Motor vehicles | 4.5 | 4.6 | 3.6 | 2.9 | 3.1 | 3 | 2.3 | 2.9 | 3.2 | 3.3 | 2.8 | 2.8 | 2.6 | |
| Other manufacturing | 6.1 | 4.9 | 4.7 | 4.8 | 4.5 | 4.5 | 4 | 4.8 | 4.6 | 4.4 | 3.8 | 4.5 | 4.3 | |
| Basic materials | 5 | 4 | 3.8 | 4 | 4 | 4.1 | 4 | 3.6 | 3.6 | 3.6 | 3.4 | 3.3 | 2.5 | |
| Processing | 5.3 | 4.5 | 4.2 | 4 | 4.1 | 4.3 | 4 | 3.9 | 3.9 | 4.1 | 3.5 | 3.7 | 3.8 | |
| Nonmanufacturing | 4.3 | 3.9 | 3.9 | 3.8 | 3.7 | 4 | 3.6 | 3.6 | 3.6 | 3.5 | 3.2 | 3.2 | 3.3 | |
| Construction | 4.6 | 4.3 | 4.5 | 4.8 | 4.2 | 4.4 | 4 | 4 | 3.5 | 3.6 | 3.6 | 3.8 | 3.8 | |
| Real estate, Goods rental & Leasing | 3.9 | 3.3 | 3.2 | 3.2 | 2.8 | 3.4 | 3 | 2.8 | 3 | 2.8 | 2.3 | 2.5 | 2.6 | |
| Real estate | 3.6 | 2.9 | 2.6 | 2.7 | 2.3 | 2.6 | 2.4 | 1.8 | 2.6 | 2 | 1.6 | 1.9 | 1.9 | |
| Goods rental & Leasing | 4.2 | 4 | 3.9 | 4.1 | 3.5 | 4.5 | 4 | 4.1 | 3.7 | 4 | 3.5 | 3.3 | 3.5 | |
| Wholesaling & Retailing | 4.6 | 4.2 | 4 | 4.1 | 4 | 4.2 | 4.2 | 4 | 4.1 | 3.8 | 3.7 | 3.6 | 3.8 | |
| Wholesaling | 4.8 | 4.1 | 4.2 | 4.3 | 4.2 | 4.4 | 4.4 | 4.3 | 4.2 | 3.8 | 4 | 3.5 | 3.8 | |
| Retailing | 4.2 | 4.2 | 3.9 | 3.8 | 3.8 | 4 | 3.9 | 3.6 | 3.8 | 3.7 | 3.3 | 3.8 | 3.6 | |
| Transport & Postal activities | 4.3 | 4 | 3.7 | 3.7 | 3.7 | 3.9 | 3.5 | 3.8 | 4 | 3.6 | 3.3 | 3.1 | 3.3 | |
| Information communication | 3.3 | 3 | 3.1 | 2.8 | 2.6 | 2.5 | 2.3 | 2.3 | 2.2 | 2.3 | 1.9 | 2 | 2.1 | |
| Communications | 5 | 4.7 | 5 | 5.9 | 5.4 | 4.6 | 4.2 | 5 | 4.6 | 4.5 | 2.1 | 2.3 | 2.1 | |
| Information services | 3.8 | 3.2 | 3.1 | 3 | 3 | 2.8 | 2.7 | 2.9 | 2.6 | 2.7 | 1.7 | 1.9 | 1.8 | |
| Other information communication | 2.4 | 2.3 | 2.6 | 2.1 | 1.6 | 1.9 | 1.6 | 0.9 | 1.2 | 1.4 | 2.1 | 2 | 2.4 | |
| Electric & Gas utilities | 4.7 | 4 | 3.4 | 3.1 | 3 | 3.7 | 3 | 3 | 3.3 | 3 | 1.9 | 2.4 | 2.8 | |
| Services for businesses | 4.1 | 4.2 | 4.6 | 3.6 | 3.8 | 4.1 | 3.7 | 3.7 | 3.6 | 3.1 | 2.6 | 2.8 | 2.7 | |
| Services for individuals | 3.9 | 4.1 | 3.8 | 4 | 3.8 | 4 | 3.7 | 4 | 4.2 | 4.1 | 3.7 | 3.6 | 3.1 | |
| Accomodations, Eating & Drinking services | 6 | 6.1 | 5.3 | 5.3 | 5.2 | 6.1 | 5.2 | 5.3 | 5.3 | 5.2 | 5.2 | 5.4 | 6 | |
| Mining & Quarrying of stone and gravel | 6.3 | 6.7 | 6.4 | 5 | 6.5 | 7.3 | 5.5 | 6 | 6 | 7.2 | 4.5 | 4.2 | 4.5 | |
| Small Enterprises41 | ||||||||||||||
| All industries | 5.7 | 5.1 | 4.8 | 4.8 | 4.7 | 4.8 | 4.6 | 4.5 | 4.6 | 4.4 | 4.2 | 4.3 | 4.3 | |
| Manufacturing | 6.1 | 5.3 | 5 | 5.1 | 5.1 | 5.2 | 4.9 | 4.9 | 4.9 | 4.7 | 4.4 | 4.4 | 4.5 | |
| Textiles | 5.5 | 4.9 | 4.9 | 5.3 | 5.6 | 5.5 | 5.3 | 5 | 5.7 | 5.2 | 5.6 | 5.3 | 5.9 | |
| Lumber & Wood products | 7.7 | 6 | 5.5 | 4.4 | 4.6 | 3.7 | 3.7 | 3.6 | 3.3 | 3 | 3.8 | 3.5 | 4.4 | |
| Pulp & Paper | 6.9 | 5.9 | 5.7 | 5 | 4.1 | 4.5 | 4.7 | 5.2 | 4.7 | 3.8 | 3.7 | 3.5 | 4.1 | |
| Chemicals | 5.2 | 4.9 | 4.6 | 4.3 | 4.3 | 4.8 | 4.2 | 3.8 | 4.1 | 4 | 3.9 | 3.7 | 3.3 | |
| Petroleum & Coal products | 6.7 | 5.4 | 5.1 | 4.5 | 5.3 | 5.2 | 5.4 | 6.2 | 6.1 | 5.4 | 5.8 | 5.9 | 5.3 | |
| Ceramics, Stone & Clay | 7.2 | 6.8 | 6.2 | 6.9 | 6.7 | 6.4 | 6.2 | 6.8 | 6.8 | 6.3 | 5.4 | 6.3 | 6.1 | |
| Iron & Steel | 5.2 | 4.9 | 4 | 4.1 | 4.4 | 4.3 | 4.9 | 4.8 | 4.8 | 5.4 | 4.7 | 4.2 | 4.2 | |
| Nonferrous metals | 4.8 | 5.1 | 4.8 | 4.1 | 4.1 | 4.6 | 4.4 | 4 | 4.2 | 4 | 4 | 3.4 | 3.6 | |
| Food & Beverages | 7.9 | 6.5 | 7.2 | 6.8 | 6.6 | 6.7 | 5.5 | 5.7 | 5.5 | 5.2 | 5.2 | 5.4 | 5.3 | |
| Processed metals | 6.9 | 5.5 | 4.5 | 4.4 | 4.8 | 4.8 | 4.3 | 4.9 | 4.5 | 4.6 | 3.5 | 3.9 | 4.5 | |
| General-purpose, Production & Business oriented machinery | 6 | 5.2 | 4.8 | 5.2 | 5.1 | 5.5 | 4.9 | 4.9 | 4.9 | 4.6 | 4 | 4 | 4.2 | |
| General-purpose machinery | 6 | 5.6 | 5.2 | 6.1 | 5.6 | 5.7 | 4.6 | 5.2 | 5.8 | 4.6 | 4.9 | 4.5 | 5 | |
| Production machinery | 6.2 | 5.2 | 4.8 | 5.1 | 5.2 | 5.6 | 5.3 | 5.3 | 5.1 | 4.7 | 3.9 | 4.1 | 4.3 | |
| Business oriented machinery | 5.7 | 5 | 4.4 | 4.7 | 4.3 | 5.3 | 4.4 | 4 | 4.1 | 4.5 | 3.6 | 3.5 | 3.7 | |
| Electrical machinery | 5.4 | 5 | 4.3 | 4.9 | 4.8 | 4.8 | 4.7 | 4.7 | 4.8 | 4.8 | 4.6 | 4.7 | 4.4 | |
| Transportation machinery | 5.5 | 5 | 5.2 | 5.1 | 5 | 5 | 4.8 | 4.4 | 4.7 | 4.5 | 3.8 | 4 | 4.1 | |
| Shipbuilding, Heavy machinery & Other transportation machinery | 6.9 | 6.3 | 6.3 | 6.1 | 5.9 | 5.8 | 5.6 | 5.1 | 5.3 | 5.2 | 4.6 | 4.9 | 4.7 | |
| Motor vehicles | 3.6 | 3.4 | 3.8 | 3.7 | 3.7 | 3.9 | 3.7 | 3.3 | 4 | 3.5 | 2.9 | 3.1 | 3.4 | |
| Other manufacturing | 5.5 | 4.4 | 4.6 | 4.6 | 4.5 | 4.8 | 5.2 | 4.9 | 4.8 | 4.7 | 4.3 | 4.9 | 4.7 | |
| Basic materials | 5.9 | 5.4 | 5 | 4.8 | 4.9 | 4.9 | 4.9 | 4.8 | 5 | 4.7 | 4.6 | 4.5 | 4.6 | |
| Processing | 6.2 | 5.3 | 5.1 | 5.2 | 5.2 | 5.3 | 4.9 | 5 | 4.9 | 4.7 | 4.2 | 4.4 | 4.5 | |
| Nonmanufacturing | 5.4 | 5 | 4.6 | 4.5 | 4.5 | 4.6 | 4.5 | 4.3 | 4.4 | 4.2 | 4.1 | 4.2 | 4.1 | |
| Construction | 6.1 | 5.4 | 5 | 4.7 | 5.1 | 5.2 | 5 | 4.7 | 4.7 | 4.4 | 4.2 | 4.4 | 4.5 | |
| Real estate, Goods rental & Leasing | 4.1 | 3.6 | 3.2 | 3.2 | 3 | 3.2 | 3.1 | 2.9 | 2.9 | 2.7 | 2.4 | 2.3 | 2.4 | |
| Real estate | 3.8 | 3.2 | 2.6 | 2.5 | 2.4 | 2.4 | 2.2 | 2.1 | 2.1 | 2.1 | 1.9 | 1.7 | 2 | |
| Goods rental & Leasing | 4.6 | 4.3 | 4 | 4.2 | 4.1 | 4.5 | 4.5 | 4.2 | 4.1 | 3.6 | 3.2 | 3.3 | 2.9 | |
| Wholesaling & Retailing | 6.1 | 5.5 | 5.2 | 5.1 | 5.1 | 5.1 | 5.1 | 4.9 | 5 | 4.8 | 4.9 | 4.8 | 5 | |
| Wholesaling | 6.2 | 5.8 | 5.1 | 5.1 | 4.9 | 5 | 5 | 4.9 | 4.9 | 4.7 | 4.7 | 4.8 | 4.8 | |
| Retailing | 5.8 | 5.3 | 5.3 | 5.2 | 5.5 | 5.3 | 5.3 | 5.1 | 5.3 | 5 | 5.2 | 5 | 5.3 | |
| Transport & Postal activities | 5.3 | 5.5 | 4.8 | 4.9 | 4.6 | 4.8 | 4.4 | 4.7 | 4.6 | 4.7 | 4.7 | 4.8 | 4.4 | |
| Information communication | 4.5 | 4.3 | 4 | 3.6 | 4.1 | 3.9 | 4.3 | 3.9 | 4 | 4 | 3.8 | 4 | 3.7 | |
| Communications | 5.7 | 5.3 | 6.5 | 3.9 | 5 | 5.4 | 6.4 | 6.1 | 5 | 4.6 | 3.7 | 6.3 | 5.4 | |
| Information services | 3.8 | 3.6 | 3.4 | 3.3 | 3.4 | 3.3 | 4.3 | 3.5 | 3.3 | 3.1 | 2.9 | 3.3 | 2.7 | |
| Other information communication | 4.8 | 4.7 | 4.1 | 3.9 | 4.6 | 4.1 | 3.8 | 3.8 | 4.4 | 4.7 | 4.7 | 4 | 4.3 | |
| Electric & Gas utilities | 3.7 | 3.4 | 3.7 | 4.2 | 4.2 | 4.6 | 3.2 | 2.7 | 2.7 | 2.5 | 1.9 | 2.3 | 1.3 | |
| Services for businesses | 4.9 | 4.5 | 4.3 | 4.3 | 4.1 | 4.2 | 4.1 | 3.9 | 4.1 | 3.9 | 3.5 | 3.6 | 3.6 | |
| Services for individuals | 4 | 3.6 | 3.2 | 3 | 3 | 3.4 | 3.6 | 3.2 | 2.8 | 2.8 | 3 | 3.2 | 2.7 | |
| Accomodations, Eating & Drinking services | 5.7 | 6.1 | 5.9 | 6.3 | 5.9 | 5.9 | 5.6 | 5.9 | 5.8 | 6 | 5.8 | 6.2 | 5.8 | |
| Mining & Quarrying of stone and gravel | 8.8 | 7.1 | 4.4 | 5 | 3.7 | 3.6 | 3.2 | 3.4 | 4.2 | 4.5 | 5.4 | 4.5 | 4.5 |
Latest reading
All industries stood at 5.1 in Q2 2026. That is +10.9% from Q1 2026 and +18.6% 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
- 5.1
- Q2 2026
- vs previous period
- +10.9%
- Q1 2026
- vs a year earlier
- +18.6%
About this data
Tankan survey of enterprises' inflation expectations — outlook for output prices, 3 years ahead — average expected rate of change by enterprise size and industry. 164 series. Source: Bank of Japan, Time-Series Data Search.
