Japan producer prices ease in November as yearly pace holds

Japan's producer prices rose in November, though at a slower pace, while annual growth remained unchanged, preliminary data showed on Wednesday.

According to the Bank of Japan, the corporate producer price index rose 0.3% month-on-month in November, easing from 0.4% increase in October and matching the 0.3% increase that was expected based on the FXStreet-cited consensus forecast.

Contributing to the monthly gain was a 0.15% increase in electric power, gas and water, as well as 0.12% rise in nonferrous metals. Meanwhile, beverage and foods, along with agriculture, forestry and fishery products increased 0.04%, but petroleum and coal products fell 0.11%.

The PPI rose 2.7% year-on-year in November, matching October's reading and the expected 2.7% increase.

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