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.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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