Japan’s Producer Price Index (PPI) rose 0.2% MoM and 2.6% YoY in July 2025, down from 2.9% YoY in June and the lowest since August 2024. Excluding extra charges for summer electricity, PPI increased 0.1% MoM.

• The Export Price Index (contract currency basis) rose 0.3% MoM but fell -1.1% YoY; on a Yen-basis, it declined -5.4% YoY.
• The Import Price Index (contract currency basis) climbed 1.1% MoM and was down -5.1% YoY; the Yen-basis measure rose 2.4% MoM but fell -10.4% YoY.
• Key positive contributors to PPI: petroleum & coal products (+0.11%), electricity (+0.06%), and agriculture, forestry & fishery products (+0.04%).
• Negative contributors included production machinery (-0.02%) and iron & steel (-0.02%).