Japan Services Producer Prices Rise 1.8% in Feb.
10:30 JST, March 28, 2023
TOKYO (Jiji Press) — Japan’s services producer prices in February rose 1.8% from a year before, up for the 24th consecutive month, the Bank of Japan said Monday.
The services producer price index, which measures the cost of services provided to corporate customers, stood at 107.6 against the 2015 base of 100, the central bank said.
Amid receding effects of the COVID-19 pandemic, growing travel demand and the resumption events led to hikes of prices of related services. Rising materials and personnel costs also pushed up some services prices.
Hotel service prices jumped 30.1%, reflecting a recovery of travel demand and an increase of tourists from abroad.
The expanded travel demand also led to hikes in advertising service prices, with newspaper ad prices rising 7% and internet ad prices going up 5.6%. Fees for international air passenger transportation increased 24%.
Laundry service prices climbed 14.2% amid higher energy costs. Worker dispatch service prices rose 1.5%, reflecting increases of labor costs for professional engineers such as those engaged in software development.
According to the BOJ, prices rose in 97 of 146 service categories and fell in 18 categories.
"Business" POPULAR ARTICLE
-
Aviation Fuel Shortage Causes Problems at Regional Airports; Growing Demand, Lack of Workers to Transport
-
Prices of over 10,000 Food and Beverage Items to Rise This Year; Figure is down from over 30,000 Last Year
-
Sony Group to End Production of Blu-ray Discs; Market Has Shrunk Due To Growth Of Hard Disk Drives, Streaming
-
AI-Equipped Energy Efficient Air Conditioners Grow In Popularity; Some Can Guess Users’ Moods, Automatically Adjust Temperature
-
Toyota to Introduce 4-Day Workweek for Some Employees; Company Hopes More Flexible Schedules Will Boost Worker Motivation
JN ACCESS RANKING