July 10, 2024 00:38 GMT
MNI BRIEF: Japan June CGPI Rises 2.9% Y/Y, Higher Import Price
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(MNI) TOKYO
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Japan's corporate goods price index rose 2.9% y/y in June, following May's revised 2.6%, with import price rises accelerating for the fifth straight month, Bank of Japan data on Wednesday showed.
June data was boosted by prices of electric power, gas and water up 0.1% y/y following -7.2% in May, with chemical and related products growing 1.7%, versus 0.8% previous.
Import prices rose 9.5% y/y in June for the fifth straight rise, accelerating from 7.2% in May.
BOJ Governor Kazuo Ueda said the BOJ is carefully watching the impact of the weak yen on prices.
The CGPI rose 0.2% m/m in June after rising 0.7% in May.
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