Japan Producer Price Index Hits Record High in 2024
Tokyo, Jan. 16 (Jiji Press)--The Japanese producer price index hit a record high for the third straight year in 2024, reflecting moves by companies to pass on higher material and labor costs to prices, a Bank of Japan report showed Thursday.
The producer price index, which measures the costs of goods traded between companies, rose 2.3 pct from the previous year to 122.6, against 100 for the base year of 2020. The index was up for the fourth year in a row.
By category, nonferrous metal prices rose 12.2 pct because of high market prices of copper and aluminum.
Agricultural, forestry and fishery goods prices climbed 9.7 pct mainly due to rice price hikes, while prices of food and beverages logged a 2.6 pct rise amid higher material costs.
Meanwhile, lumber and wood products prices fell 4.0 pct following a slowdown in demand for housing.
(2025/01/16-14:57)
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