Japan Aug. Services Producer Prices Up 2.7 Pct

Tokyo, Sept. 25 (Jiji Press)–Services producer prices in Japan rose 2.7 pct from a year before in August, up for the 54th straight month, preliminary data from the Bank of Japan showed Thursday. The August services producer price index stood at 111.2 against the 2020 base of 100. The index shows moves of prices of services traded between firms. The growth expanded from the 2.6 pct in July as moves to pass increased expenses such as personnel costs onto prices continued. Prices went up for 111 of the 146 items surveyed, and declined for 18 products. By category, prices of accommodation services rose 7.6 pct although the pace of growth in demand from inbound visitors slowed somewhat. Those of television and radio ad services climbed 9.8 pct. Prices for services with high ratios of labor costs to production value grew 3.3 pct, continuing to be high while the growth rate remained unchanged from July. END [Copyright The Jiji Press, Ltd.]