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MNI BRIEF: Japan Aug CGPI Rises 9.0% Y/Y Vs. +9.0% in July

MNI (TOKYO)

Bank of Japan concerns about the pass-through of higher prices been have underscored as the August Corporate Goods Price Index remained steady at the +9.0% y/y pace recorded in July, data released by the BOJ on Tuesday showed.

The CGPI rose 0.2 % m/m in August for the third straight rise, slowing from +0.7% in July.

BOJ officials are wary of an acceleration in inflation and will closely assess the rise in prices caused by corporate price revisions on October 1, as well as continued pass-through of higher costs (See: MNI: BOJ Worried About Surge in Oct Tokyo CPI, Hit To Spending).

August marked the 18th consecutive y/y rise mainly due to high prices for petroleum and coal products (+15.6% in Aug. vs. +14.8% in July) and prices for iron and steel (+26.1% vs. +27.3%).

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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