DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI DATA BRIEF: Japan's July CGPI Highest Since September 2008

(MNI) Tokyo
TOKYO (MNI)

Japan's July corporate goods price index posted the highest level since September 2008 with costs being passed to retail prices on higher commodity input levels, data released by the Bank of Japan on Thursday showed.

The index rose 5.6% on year in July, up from a 5.0% gain in June as lumber and wood products rose 33.1% y/y in July, accelerating from +22.6% in June. In 2008, the index rose 6.9% y/y. The July CGPI rose 1.1% m/m, accelerating from +0.6% in June and for the highest level since October 2019 when it rose 1.1%.

"Prices are rising broadly, reflecting the rise in international commodity prices caused by the recovering global economy," a BOJ official told reporters. He added that businesses are passing on higher costs to retail prices and upward pressure is expected to continue.

Petroleum and coal product prices jumped 38.8% in July vs. +42.0% in June, and nonferrous metal prices rose 32.3% in July vs. +37.6% in June.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
DataPolicy NewsHomepageAPACBank of Japan (BOJ) Market NewsJapanData StoriesBriefStoryRegion
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
DataPolicy NewsHomepageAPACBank of Japan (BOJ) Market NewsJapanData StoriesBriefStoryRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.