Japan Producer Prices Rise 8.2% in Feb.
11:10 JST, March 11, 2023
TOKYO (Jiji Press) — Japanese producer prices climbed 8.2% in February from a year before, rising for the 24th straight month as materials prices remained elevated, the Bank of Japan said Friday.
The pace of growth in the producer price index, which measures the costs of goods traded between businesses, slowed from a 9.5% increase in the previous month, due partly to a government measure aimed at cushioning the impact of soaring electricity fees.
“Moves to pass on higher costs to clients have moderated” as the pace of increase in import prices caused by a weak yen slowed, an official at the central bank said.
Month on month, the producer price index fell 0.4%, the first decline since November 2020. The index stood at 119.3 against the 2020 base of 100. Producer prices grew year on year for 452 of the 515 items surveyed by the central bank.
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