Japan's wholesale inflation slowed to 2.3% in January 2026, driven by lower fuel prices and easing producer pressures.

Japan's wholesale inflation slowed to 2.3% in January 2026, the second straight monthly decline, according to the corporate goods price index, as fuel prices dropped and producer-level pressures eased. Despite a slight rebound in import prices due to yen weakness, the currency remains near recent highs after falling to 160. The Bank of Japan, which raised rates to 0.75% in December, will monitor inflation trends and currency movements before deciding on future policy adjustments.