Japan producer prices rise ahead of expectations in September

Japan's producer prices returned to growth in September from August, while annual growth held steady, preliminary data showed on Friday.

According to the Bank of Japan, the corporate producer price index increased 0.3% month-on-month in September, reversing a 0.2% drop in August and surpassing the 0.1% increase that was expected based on the FXStreet-cited consensus forecast.

Contributing to the monthly gain was a 0.29% increase in agriculture, forestry, and fishery products. Meanwhile, nonferrous metals grew 0.08%, and petroleum and coal products edged up 0.04%.

The PPI rose 2.7% year-on-year in September, matching August's reading and exceeding the expected 2.5% increase.

The PPI is based on a monthly BoJ survey that tracks the price developments of goods traded in Japan's corporate sector.