MNI BRIEF: Japan's Oct CGPI Rises 9.1% Y/Y Vs. 10.2% in Sep

The year-on-year rise in Japan's corporate goods price index slowed to 9.1% in October from September's revised record high of 10.2%, underlining solid past-through of high costs predicted by Bank of Japan officials, data released by the BOJ Friday showed.

Corporate price revisions, usually seen in April and October, were behind the rise in October, the 20th consecutive increase. The CGPI rose 0.6% m/m in October, slowing from revised +1.0% in September. (See MNI BRIEF: BOJ To Discuss Exit If 2% Target Sustained - Kuroda)

The increase in October's CGPI was due mainly to high prices for beverage and foods (which gained 6.9% in Oct. vs. 6.9% in Sept.) and for chemical and related products (up 8.7% vs. 11.0%). Prices for petroleum and coal products slowed, rising 2.6% vs. 14.5% in Sept.

Prices for iron and steel slowed to 22.4% in October from 27% in September but had the biggest positive contribution. Prices for electric power, gas and water rose 38.8% in October vs. 34.5% in September.