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MNI DATA BRIEF: Japan June CGPI Up 5.0% On Steel, Energy Gains

(MNI) Tokyo
TOKYO (MNI)

Japan's corporate goods price index posted a fourth straight year-on-year rise in June, up 5.0%, down slightly from an upward revised 5.1% in May, but has so far not flowed through to retail prices, the Bank of Japan said Monday.

June's rise was caused by high prices for petroleum and coal products. As well steel and iron prices rose 9.3% y/y in June, accelerating from +7.5% in May. A BOJ official said that the rise in steel was due to a recovering demand and supply restrictions and will continue. He added that higher crude oil prices in July will flow through with a time lag.

The CGPI rose 0.6% m/m in June, slowing from +0.8% in May.


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