Japan’s Producer Price Index (PPI) fell -0.2% MoM in August 2025, while the Export Price Index (contract currency basis) slipped -0.1% MoM and the Import Price Index was unchanged, reflecting deflationary pressures across trade and domestic costs.

• PPI dropped -0.2% MoM (+2.7% YoY), with the largest drag from electricity, gas & water (-0.22%), while declines in agriculture (-0.05%) and metal products (-0.03%) also weighed; petroleum & coal products (+0.05%) and transport equipment (+0.03%) provided modest support.

• Export prices (contract currency) fell -0.1% MoM (-1.1% YoY), led by weaker transport equipment (-0.08%), heavy oil and plastics (-0.07%), and chemicals (-0.04%); general-purpose and production machinery rose +0.14% MoM on stronger semiconductor equipment demand.

• Import prices (contract currency) were flat MoM (-4.6% YoY), as gains in machinery (+0.09%), petroleum/coal/natural gas (+0.07%), and transport equipment (+0.03%) were offset by declines in metals (-0.10%) and food-related imports (-0.06%).

• On a yen basis, export prices edged up +0.2% MoM but fell -0.3% YoY, while import prices rose +0.5% MoM but dropped -3.9% YoY, partly reflecting exchange rate effects.

• The foreign exchange rate averaged 147.7 ¥/$ in August, marking a slight monthly depreciation (-0.7% YoY change).