Japan Producer Prices Up 3.2 Pct; Growth Keeps Slowing
Tokyo, Sept. 13 (Jiji Press)--Producer prices in Japan rose 3.2 pct from a year before in August, up for the 30th straight month, lifted by higher crude oil prices, the Bank of Japan said Wednesday.
But the rate of growth decelerated for eight months in a row, hitting the lowest level since March 2021.
The producer price index, which measures costs of goods traded between businesses, came to 119.6 against 100 for the base year of 2020, the central bank said.
The decelerating pace of growth apparently reflects slowing moves to pass on higher costs to product prices as well as government measures to reduce the burden of rising electricity and gas bills on households.
Prices rose for 431 of the 515 products covered by the BOJ statistics, down by five from 436 items in July.
(2023/09/13-12:36)
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