Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes
Published . Updated .
Key takeaways
- Japan’s producer price index (PPI) rose 7.1% Y/Y in October 2026, surpassing market forecasts of 6.5% and accelerating from September’s four-month low of 6.8%.The uptick signals renewed upstream inflationary pressures, driven largely by elevated raw material, energy, and import
- Exposed: EWJ, BWX, EFA, MUFG, TM
- Market reaction: EWJ −0.7% on the day; BWX −0.6% on the day; TM −1.6% on the day
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
Get these market calls by email
The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.
Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.
Japan’s producer price index (PPI) rose 7.1% Y/Y in October 2026, surpassing market forecasts of 6.5% and accelerating from September’s four-month low of 6.8%.The uptick signals renewed upstream inflationary pressures, driven largely by elevated raw material, energy, and import
Directly affected
- No company is named in this report.
Indirectly affected
- EWJ iShares MSCI Japan ETF-0.6% 13d
iShares MSCI Japan ETF holds stocks listed in Japan, which this story is about (“japan”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Japan
- EFA iShares MSCI EAFE ETF-0.7% 6d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Japan
- MUFG Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group (commercial banks) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares.
- TM Toyota Motor+3.3% 18d
Toyota Motor (motor vehicles and passenger car bodies) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares.
- SONY Sony Group+8.9% 30d
Sony Group (household audio and video equipment) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares.
- MFG Mizuho Financial Group-13.0% 30d
Mizuho Financial Group (national commercial banks) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| EWJ | -4.13% | -0.69% | base | -0.68% | after close | after close | after close |
| BWX | +1.13% | +1.50% | base | -0.63% | after close | after close | after close |
| EFA | -1.86% | +0.32% | base | -0.61% | after close | after close | after close |
| MUFG | -3.74% | -1.05% | base | -0.87% | after close | after close | after close |
| TM | +2.87% | +2.59% | base | -1.60% | after close | after close | after close |
| SONY | +3.96% | +2.11% | base | +0.60% | after close | after close | after close |
| MFG | -7.53% | -3.20% | base | -0.34% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes TradingView
Source: TradingView
How far Ishares (EWJ) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Spdr Series Trust (BWX) | that day | -0.63% | final price |
| Spdr Series Trust (BWX) | three days earlier | +1.50% | final price |
| Spdr Series Trust (BWX) | five days earlier | +1.13% | final price |
| Ishares Tr (EFA) | that day | -0.61% | final price |
| Ishares Tr (EFA) | three days earlier | +0.32% | final price |
| Ishares Tr (EFA) | five days earlier | -1.86% | final price |
| Ishares (EWJ) | that day | -0.68% | final price |
| Ishares (EWJ) | three days earlier | -0.69% | final price |
| Ishares (EWJ) | five days earlier | -4.13% | final price |
| Mizuho Financial Group (MFG) | that day | -0.34% | final price |
| Mizuho Financial Group (MFG) | three days earlier | -3.20% | final price |
| Mizuho Financial Group (MFG) | five days earlier | -7.53% | final price |
| Mitsubishi Ufj Financial Group (MUFG) | that day | -0.87% | final price |
| Mitsubishi Ufj Financial Group (MUFG) | three days earlier | -1.05% | final price |
| Mitsubishi Ufj Financial Group (MUFG) | five days earlier | -3.74% | final price |
| Sony Group (SONY) | that day | +0.60% | final price |
| Sony Group (SONY) | three days earlier | +2.11% | final price |
| Sony Group (SONY) | five days earlier | +3.96% | final price |
| Toyota Motor Corp/ (TM) | that day | -1.60% | final price |
| Toyota Motor Corp/ (TM) | three days earlier | +2.59% | final price |
| Toyota Motor Corp/ (TM) | five days earlier | +2.87% | final price |
Members of Congress who traded Ishares (EWJ) near this story
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares (EWJ)
Companies tied to this story
- EWJ Ishares
Ishares (EWJ) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes.” Reason on file: iShares MSCI Japan ETF holds stocks listed in Japan, which this story is about (“japan”)
- BWX Spdr Series Trust
Spdr Series Trust (BWX) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes.” Reason on file: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Japan
- EFA Ishares Tr
For “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Japan
- MUFG Mitsubishi Ufj Financial Group
Mitsubishi Ufj Financial Group (MUFG) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes.” Reason on file: Mitsubishi UFJ Financial Group (commercial banks) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares
- TM Toyota Motor Corp/
In “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes,” Toyota Motor Corp/ (TM) is linked, with no stored direction, medium confidence. Reason on file: Toyota Motor (motor vehicles and passenger car bodies) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares
- SONY Sony Group
For “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes,” Sony Group (SONY) is linked, with no stored direction, medium confidence. Reason on file: Sony Group (household audio and video equipment) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares
- MFG Mizuho Financial Group
For “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes,” Mizuho Financial Group (MFG) is linked, with no stored direction, medium confidence. Reason on file: Mizuho Financial Group (national commercial banks) is one of the largest Japan-based companies traded in the US, so news about Japan (“japan”) reaches its shares
Ishares (EWJ)
The 12 Nov 2026 story “Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes” names Ishares (EWJ) because of this story.
The link for Ishares (EWJ) is this: iShares MSCI Japan ETF holds stocks listed in Japan, which this story is about (“japan”)
A second company, Spdr Series Trust (BWX), is listed for a different reason: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Japan
The price range for Ishares (EWJ), and the dates in the story
EFA traded between 102.00 and 104.68 across 6 sessions. The latest close on file is 103.46. EWJ traded between 95.98 and 99.98 across 11 sessions. The latest close on file is 97.33.
A simple score for Ishares (EWJ)
46 out of 100
“Japan's producer inflation accelerates to 7.1% in October; BoJ urges caution on rate hikes” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.