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Producer prices up 2.1% in June

Jiji Press TOKYO (Jiji Press) — Japan’s producer prices in June went up 2.1 percent from a year earlier, rising for the sixth straight month due to higher crude oil and iron ore prices, the Bank of Japan said Wednesday.

The producer price index stood at 98.4 against 100 for the base year of 2015, the central bank said in a preliminary report.

Prices of petroleum and coal products increased 11.1 percent on the back of market price rises.

Steel prices climbed 10.8 percent and nonferrous metal prices rose 11.4 percent, buoyed by expectations for growing demand for infrastructure construction in China and the United States.

Of the 744 items surveyed, 353 posted higher prices, while 300 marked lower prices. Rising items outnumbered falling ones for three consecutive months.Speech

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