# Japan Narrow Money (M1)

Japan Narrow Money (M1) was down 0.4% year on year in October 2026, compared with −0.2% in September 2026.
The level stood at 10,775,902 100M JPY.
Among the 9 economies Makrognosis covers on this measure, it is the lowest.
Over the past ten years it has ranged from −0.8% (Sep 2025) to 14.6% (Feb 2021), averaging 5.4%.

- Source agency: Bank of Japan
- Makrognosis code: `JP.M1.M.NSA`
- Frequency: monthly
- Units: 100M JPY
- Coverage: 2003-04-01 to 2026-10-01 (283 observations)
- Page: https://makrognosis.robomacro.com/data/japan/narrow-money-m1

## Recent data

| Period | Value | Y/Y % |
|---|---:|---:|
| October 2026 | 10,775,902 100M JPY | −0.4 |
| September 2026 | 10,817,691 100M JPY | −0.2 |
| August 2026 | 10,877,264 100M JPY | −0.05 |
| July 2026 | 10,914,272 100M JPY | 0.2 |
| June 2026 | 10,972,340 100M JPY | 0.1 |
| May 2026 | 11,032,731 100M JPY | 0.3 |
| April 2026 | 11,031,918 100M JPY | 0.1 |
| March 2026 | 10,894,994 100M JPY | −0.4 |
| February 2026 | 10,867,556 100M JPY | −0.5 |
| January 2026 | 10,924,942 100M JPY | −0.4 |
| December 2025 | 10,908,947 100M JPY | −0.6 |
| November 2025 | 10,850,470 100M JPY | −0.6 |
| October 2025 | 10,814,821 100M JPY | −0.6 |
| September 2025 | 10,838,397 100M JPY | −0.8 |
| August 2025 | 10,882,193 100M JPY | −0.7 |
| July 2025 | 10,894,655 100M JPY | −0.7 |
| June 2025 | 10,956,686 100M JPY | −0.3 |
| May 2025 | 10,999,562 100M JPY | −0.3 |
| April 2025 | 11,016,430 100M JPY | −0.6 |
| March 2025 | 10,941,288 100M JPY | 0.1 |
| February 2025 | 10,919,164 100M JPY | 0.8 |
| January 2025 | 10,973,524 100M JPY | 1.1 |
| December 2024 | 10,969,519 100M JPY | 1.3 |
| November 2024 | 10,913,656 100M JPY | 1.4 |

## API

```
curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/JP.M1.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/JP.M1.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
```