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MNI BRIEF: Japan Oct CGPI Posts Highest Level Since Jan 1981

(MNI) Tokyo
TOKYO (MNI)

Japan's October corporate goods price index rose 8.0% y/y, the eighth straight gain and accelerating from a revised +6.4% in September, data released by the Bank of Japan on Thursday showed.

The October CGPI, at its highest since January 1981, was boosted by higher prices for lumber and wood products and petroleum and coal products.

Despite the higher CGPI, prices for final domestic goods rose only 2.2% y/y in October vs. +1.8% in September, showing that high costs haven't sufficiently transferred to retail prices and corporate profits continue to be squeezed. October CGPI rose 1.2% m/m.


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

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