Asia-Pacific Inflation Monitor: Renewed upward pressure from energy prices

This publication summarizes regional and economy-specific inflation data across the Asia-Pacific economies we cover. The latest CPI/PPI data points are generally for August 2026, with some energy price data through mid-September. Our commodities strategists raised their Brent oil price forecast. Energy prices have moved meaningfully higher again over the past several weeks, which should be reflected in further increases in import prices and producer prices in September in many economies (though to a lesser extent in final consumer prices, given fiscal subsidies/regulated prices); LNG and diesel prices set new highs for the year. Before the ongoing Iran war, CPI inflation was broadly in line with or below central bank targets in most countries;