Tokyo, Oct. 13 (Jiji Press)–Japan’s producer prices in September grew 6.8 pct from a year before, with prices continuing to rise at a high rate across a wide range of products, including nonferrous metal, petroleum and coal products, amid turmoil in the Middle East, Bank of Japan data showed Tuesday. The producer price index, which measures the costs of goods traded between businesses, stood at 135.7 against the 2020 average of 100. The pace of the index’s increase slowed from the 7.6 pct rise logged in August, partly due to falling prices of newly harvested rice stemming from high inventory levels. Of the 515 items surveyed, prices rose for 460 and fell for 42. By category, prices of nonferrous metal products, including copper and aluminum, jumped 40.2 pct, and those of petroleum and coal products rose 11.5 pct. Prices of information and communications equipment went up 15.3 pct, reflecting soaring memory prices driven by artificial intelligence-linked demand. Those of agricultural, forestry and fishery products fell 13.3 pct due to lower rice prices. A BOJ official said that companies are continuing to pass on higher materials and parts costs to their customers. The import price index, which shows prices of goods imported from other countries, climbed 24.5 pct in yen terms. It rose 17.9 pct on a contract currency basis. END [Copyright The Jiji Press, Ltd.]
