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Japan Services Producer Prices Up 2.1 Pct in Oct.

Japan Services Producer Prices Up 2.1 Pct in Oct.

   Tokyo, Nov. 26 (Jiji Press)--Services producer prices in Japan in October rose 2.1 pct from a year before, lifted by the consumption tax hike in the month, the Bank of Japan said Tuesday.
   The services producer price index, which measures the costs of services provided to corporate clients, came to 104.8 against 100 for the base year of 2015, the central bank said. The index was up for the 76th consecutive month.
   Excluding the impact of the consumption tax hike, from 8 pct to 10 pct, the index grew 0.4 pct. The growth was 0.1 percentage point smaller than in the previous month.
   "Drops in advertising prices were notable, pushing down the overall growth of services producer prices," a BOJ official said.
   There were no major trend changes in other surveyed items, but price increases slowed for some categories due partly to rises the previous year, the official said.

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