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MNI (Sydney)

Japan's corporate goods price index has posted a second straight
year-on-year rise in April, up 3.6%, with the index rising to the highest level since September 2014, according to data released by the Bank of Japan on Monday.

April's 3.6% y/y rise accelerated from a 1.2% rise in March and was sharply boosted by higher prices for petroleum and coal products (+39.3% y/y in April vs. +9.9% in March).

The index was also boosted by higher nonferrous metals (+35.2% in April vs. +28.8% in March).

"The April rise was also reaction from weak data last year caused by coronavirus and the latest data was boosted by higher international commodity prices on the back of the recovering global economy," a BOJ official told reporters.

The April index rose 0.7% m/m following +1.0% in March.

MNI Sydney Bureau | +61-405-322-399 |
MNI Sydney Bureau | +61-405-322-399 |

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