Producer prices in Japan rose for a 19th straight month in September, driven up by higher energy and material costs and a rapidly weakening yen.
The Bank of Japan said on Thursday that the cost of goods traded among companies increased 9.7 percent last month from a year earlier.
More than 80 percent of the 515 items covered by the survey were more expensive. That suggests companies are passing on higher procurement costs in the prices of their products and services.
Prices increased for electricity, steel and farm products.
The cost of imported items surged by 48 percent year-on-year in yen terms, as the Japanese currency continued to slide against the dollar.
The BOJ says companies are likely to continue passing on higher costs in the prices charged to consumers.
The Bank of Japan said on Thursday that the cost of goods traded among companies increased 9.7 percent last month from a year earlier.
More than 80 percent of the 515 items covered by the survey were more expensive. That suggests companies are passing on higher procurement costs in the prices of their products and services.
Prices increased for electricity, steel and farm products.
The cost of imported items surged by 48 percent year-on-year in yen terms, as the Japanese currency continued to slide against the dollar.
The BOJ says companies are likely to continue passing on higher costs in the prices charged to consumers.
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Summary
Japan's producer prices increased for the 19th consecutive month in September, primarily due to higher energy, material costs, and a weak yen. The Bank of Japan reported a 9.7% year-on-year increase in company goods costs. Over 80% of surveyed items saw price hikes, indicating companies are
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ID: 7f1d5968-94e9-476b-a028-4ded4ee788bc
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221013_23/
Date: Oct. 13, 2022
Created: 2022/10/13 20:21
Updated: 2025/12/09 12:47
Last Read: 2022/10/14 20:07