Japan Producer Prices Rise 3.3 Pct in FY 2024
Tokyo, April 10 (Jiji Press)--Japan's producer prices climbed 3.3 pct in fiscal 2024 from the previous year, rising for the fourth successive year, as rice prices shot up and firms raised prices to reflect higher materials and labor costs, a Bank of Japan report showed Thursday.
According to the preliminary report by the central bank, the producer price index in the year through March stood at 123.9 against the 2020 base of 100. The index, which measures the cost of goods traded between businesses, logged a record high for the third straight year.
Agricultural, forestry and fishery goods prices surged 19.7 pct, reflecting higher prices of rice sold to wholesalers and price hikes due to increases in labor and other costs.
Higher prices of aluminum and copper resulted in a 14.4 pct jump in nonferrous metals prices. Prices of foods and beverages rose 2.4 pct.
Electricity, gas and water costs advanced 3.6 pct after the government downsized its subsidies.
(2025/04/10-13:30)
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