Japan Services Producer Prices Up 2.9 Pct in 2024
Tokyo, Jan. 28 (Jiji Press)--Japanese services producer prices rose 2.9 pct from the previous year in 2024, the sharpest increase since 1991, the Bank of Japan said Tuesday.
The services producer price index, which measures the cost of services provided to corporate clients, came to 107.5 against the 2020 base of 100, the central bank said in a preliminary report. In 1991, the index grew 3.0 pct.
The climb reflected moves by civil engineering and architectural services companies to pass on higher labor costs to clients, as well as rising prices for accommodation services amid growing demand from visitors from abroad.
For December alone, the index gained 2.9 pct to 109.1, up for the 46th straight month.
(2025/01/28-16:14)
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