Japan Services Producer Prices Up 3.0 Pct in Sept.

Tokyo, Oct. 27 (Jiji Press)–Japan’s services producer prices in September rose 3.0 pct from a year earlier, the 55th consecutive month of growth, the Bank of Japan said Monday. The services producer price index stood at 111.3 against the 2020 base of 100. The index shows moves of prices of services traded between firms. The growth rate accelerated from August’s 2.7 pct, reflecting the trend of passing increased expenses, including labor costs, onto prices. Of the 146 items surveyed, 114 logged price increases and 18 posted decreases. By category, prices of accommodation services jumped 11.1 pct, buoyed by the last-minute surge in demand before the Oct. 13 closing of the 2025 World Exposition in the western Japan city of Osaka. Domestic air passenger transportation services also saw a strong demand, with their prices rising 6.8 pct. Prices for services with high ratios of labor costs to production value were up 3.3 pct, with the growth rate remaining unchanged from the month before. Civil engineering and construction services as well as software development played a role in the increase. END [Copyright The Jiji Press, Ltd.]