Producer prices in Japan increased by 9.7 percent in September compared to the same month of the previous year, and continued to rise towards double-digit figures.
According to the data released by the Bank of Japan (BoJ), producer prices increased by 9.7 percent in September compared to the same month of the previous year. The market expectation was that prices would decline to 8.8 percent.
BOJ also revised its August data from 9.0 percent to 9.4 percent.
MANUFACTURER PRICES INCREASED 0.7 PERCENT ON A MONTHLY BASIS
Producer prices increased by 0.7 percent on a monthly basis, exceeding the market forecast of 0.2 percent.
While the country’s export prices decreased by 0.5 percent on a monthly basis, they increased by 2.9 percent on an annual basis.
The increase in import prices decreased by 0.2 percent monthly and pulled the annual increase from 21.7 percent to 21.0 percent.