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MNI BRIEF: Japan July CGPI Rises 8.6% Y/Y Vs. +9.4% in June

(MNI) Tokyo

The year-on-year rise in Japan's corporate goods price index slowed to +8.6% in July from June’s revised +9.4% in the wake of smaller rises for lumber and wood products, and petroleum and coal products, data released by the Bank of Japan Wednesday showed.

July’s gain was the 17th straight y/y rise. April’s record high of +9.9% was revised up to +10.0%.

The July data showed that the rise in commodity and grain prices is being transferred to food prices. Prices for beverages and foods rose 5.5% y/y in July vs. +4.6% in June. They rose 1.6% m/m in July vs. +0.4% in June.

The CGPI rose 0.4% m/m in July, slowing from 0.9% in June but the 20th straight rise.

Prices for petroleum and coal products rose 14.7% y/y vs. +21.8% in June, and prices for lumber and wood products added 29.8%, slowing from +43.5% in June. May. Prices for iron and steel jumped 27.2% in July, unchanged from June’s +27.2%.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
DataCentral Bank NewsPolicy NewsAPACJapanData BriefData StoriesBank of JapanBriefStoryRegion
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MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
DataCentral Bank NewsPolicy NewsAPACJapanData BriefData StoriesBank of JapanBriefStoryRegion
True

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