Japan’s producer prices rose 2.7% year-on-year in September 2025, keeping the same pace as in the previous month but exceeding market forecasts of 2.5%. Cost continued to rise for most components: transport equipment (2.0% vs 2.2% in August), beverages and foods (4.7% vs 4.9% 5.0%), general-purpose machinery (3.4% vs 3.7%), other manufacturing (3.2% vs 3.9%), non-ferrous metals (9.6% vs 6.2%), electrical machinery (2.7% vs 2.8%), production machinery (1.8% vs 1.9%), metal products (2.6% vs 3.1%), plastics (2.5% vs 2.7%), information and communications (1.0% vs 1.5%), and business-oriented machinery (0.8% vs 0.7%). On the other hand, prices fell further for chemicals (-3.9% vs -4.0%), iron and steel (-6.7% vs -6.5%), and petroleum and coal products (-1.8% vs -1.5%). On a monthly basis, prices increased by 0.3%, topping consensus of 0.1% and reversing the 0.2% decline in August.