Japan producer prices up 3.7% in November, beating forecasts

Producer prices in Japan rose 3.7% year-on-year in November 2024, slightly above the revised 3.6% increase in October and beating market expectations of 3.4%.

Japan producer prices up 3.7% in November, beating forecasts

This marked the 45th consecutive month of producer price inflation and the highest rate since July 2023. Price increases were broad-based across most sectors, including transport equipment (1.0%), beverages and foods (1.8%), petroleum and coal (1.6%), and non-ferrous metals (13.6%). Gains were notable in plastics (3.2%) and business-oriented machinery (2.4%), with some categories like general-purpose machinery (3.9%) seeing acceleration.

Chemical prices fall, while Japan's producer prices rise 0.3% monthly

However, costs declined for chemical products (-0.4%), continuing a deflationary trend in the sector. Producer prices increased by 0.3% every month, consistent with the previous two months and exceeding the 0.2% forecast.