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Producer prices up 2.0% in April

Jiji Press TOKYO (Jiji Press) — Japan’s producer price index for April rose 2.0 percent from a year before, up for the 16th straight month on the back of higher prices of crude oil and nonferrous metals, the Bank of Japan said Monday.

The producer price index for April stood at 100.4 against 100 for the base year of 2015.

Petroleum and coal product prices surged 11.0 percent due to a rise in gasoline and diesel fuel prices.

Prices of nonferrous metals grew 7.5 percent, pushed up mainly by an increase in demand for copper across the world.

By contrast, prices of electric machinery and equipment dropped 0.9 percent.

“With the world economy including Japan faring well, the producer price trend is not weak,” a BOJ official said.Speech

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