Japan Producer Prices Up 2.7 Pct in Sept.

Tokyo, Oct. 10 (Jiji Press)–Japan’s producer prices in September increased 2.7 pct from a year earlier, reflecting continued price hikes in food and beverage items including rice, Bank of Japan data showed Friday. The producer price index, which measures the cost of goods traded between businesses, stood at 126.9 against the 2020 base of 100, up for the 55th consecutive month. The growth rate was the same as the previous month. Of the 515 items surveyed, 373 rose while 121 fell. By category, prices of agricultural, forestry and fishery products climbed 30.5 pct, mainly due to increased advance payments for rice from agricultural cooperatives to farmers and higher egg prices following bird flu outbreaks. Although the price growth was slower than August’s 41 pct, it remains at a high level. “We’ll closely monitor the distribution of rice harvested in 2025,” a BOJ official said. Food and beverage prices advanced 4.7 pct as higher costs of materials and packaging were passed on to consumers. Nonferrous metals scored an increase of 9.6 pct due to soaring market prices for copper and gold. Electricity, gas and water prices rose 0.7 pct, rebounding from August’s drop of 3.1 pct. The import price index declined 0.8 pct in yen terms and 3.2 pct on a contract currency basis. END [Copyright The Jiji Press, Ltd.]