December 11, 2024 00:11 GMT
MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop
MNI (TOKYO) - Japan's corporate goods price index rose 3.7% y/y in November, accelerating from October’s revised 3.6%, but import prices posted their third straight drop, data released by the Bank of Japan showed on Wednesday.
The November index was boosted by high agriculture, forestry and fishery products (+31.0% vs. +38.1%) and electric power, gas and water (+9.2% vs. +5.9%).
The CGPI rose 0.3% m/m in November after rising 0.3% in October.
Import price fell 1.2% y/y in November for the third straight drop following -2.2% in October, indicating the pass-through of high costs is weakening.
However, the pass-through of high costs continued in both goods and services as a time lag exists among firms and industries.
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