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MNI BRIEF: Japan's Aug Services PPI Year-on-Year Rise Slows

(MNI) Tokyo

Japan’s services produce price index rose 1.9% y/y in August, marking the 18th straight rise, but slowed from a revised +2.0% in July, preliminary data released by the Bank of Japan on Tuesday showed

The data showed that services prices don’t rise easily in Japan compared with other countries. Unless services prices rise, Japan’s inflation rate will not rise in a stable and sustainable manner as desired by the Bank of Japan. BOJ officials are focused on corporate price revisions in October amid the rise in resource prices.

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Japan’s services produce price index rose 1.9% y/y in August, marking the 18th straight rise, but slowed from a revised +2.0% in July, preliminary data released by the Bank of Japan on Tuesday showed

The data showed that services prices don’t rise easily in Japan compared with other countries. Unless services prices rise, Japan’s inflation rate will not rise in a stable and sustainable manner as desired by the Bank of Japan. BOJ officials are focused on corporate price revisions in October amid the rise in resource prices.

Keep reading...Show less