Makrognosis

Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100)

QuarterlyNot seasonally adjustedCode JP.GDPDEFL.Q.NSA

Latest (y/y)2.6%Q2 2026
Previous (y/y)3.3%Q1 2026
Level115.1Q2 2026

Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100) was up 2.6% year on year in Q2 2026, compared with 3.3% in Q1 2026.

The level stood at 115.1 (index (real-series reference year = 100)).

That is the lowest reading since Q1 2023.

Over the past ten years it has ranged from −0.5% (Q3 2018) to 6.0% (Q3 2023), averaging 1.5%.

Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100), annual % change, Q1 1997 – Q2 2026−4%−2%0%2%4%6%200020052010201520202025Robomacro
Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100), annual % change, Q1 1997 – Q2 2026. Source: Makrognosis (computed from agency-direct inputs).
Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100), level (index (real-series reference year = 100))9095100105110115200020052010201520202025Robomacro
Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100), level (index (real-series reference year = 100)).

Showing the full history (downsampled for display). Open the interactive chart to zoom and switch transforms.

Recent data

PeriodValueY/Y %
Q2 2026115.12.6
Q1 2026114.03.3
Q4 2025113.63.4
Q3 2025112.93.5
Q2 2025112.13.3
Q1 2025110.33.6
Q4 2024109.92.9
Q3 2024109.12.7
Q2 2024108.63.6
Q1 2024106.43.4
Q4 2023106.85.0
Q3 2023106.26.0
Q2 2023104.84.7
Q1 2023102.92.5
Q4 2022101.71.8
Q3 2022100.10.1
Q2 2022100.10.2
Q1 2022100.30.6
Q4 202199.96−0.08
Q3 2021100.00−0.01
Q2 202199.87−0.2
Q1 202199.800.07
Q4 2020100.00.5
Q3 2020100.01.5

Last 24 observations. The full history (122 observations) is available through the API.

Get Japan GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100) in your code or spreadsheet

One guessable code, agency-direct, updated on release. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/JP.GDPDEFL.Q.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/JP.GDPDEFL.Q.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
Get a free API key → · API docs

About this series

Latest observationQ2 2026
First observationQ1 1996
Observations122
FrequencyQuarterly
Unitsindex (real-series reference year = 100)
AdjustmentNot seasonally adjusted
10-year high6.0% (Q3 2023)
10-year low−0.5% (Q3 2018)
10-year average1.5%
Source agencyMakrognosis (computed from agency-direct inputs)
Makrognosis codeJP.GDPDEFL.Q.NSA

This series is a labelled reference series (an official figure republished by an aggregator) rather than a first print from the agency itself.

Other Japan indicators

Japan GDP (Gross Domestic Product)Japan Nominal GDP, expenditure side, current prices, SA at annual rate (Cabinet Office QE)Japan CPI: All items (2025=100)Japan Inflation Rate (CPI)Japan Core Inflation RateJapan Unemployment RateJapan Unemployment Rate (not seasonally adjusted)Japan Credit Rating & Sovereign Risk ScoreJapan Industrial ProductionJapan Producer Price Inflation (PPI)Japan Current Account Balance (BoP, monthly)Japan Trade Balance: Goods & ServicesJapan Merchandise Exports, BoP basis (Goods Credit, BPM6)Japan Merchandise Imports, BoP basis (Goods Debit, BPM6)Japan EmploymentJapan M2 Money Stock

FAQ

What is the current gDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100) in Japan?
The latest reading is 2.6% year on year for Q2 2026, published by Makrognosis (computed from agency-direct inputs).
Where does this data come from?
It is collected directly from Makrognosis (computed from agency-direct inputs) and is available through the Makrognosis API under the code JP.GDPDEFL.Q.NSA.

Last updated 2026-11-08. Source: Makrognosis (computed from agency-direct inputs). Original title: “JP GDP implicit price deflator (JP.GDP.Q.NOM / JP.GDP.Q.REAL x 100; Cabinet Office, SA, 2020=100)”.