Jiji Press TOKYO (Jiji Press) — Japan’s producer price index for August rose 3.0 percent from a year before, up for the 20th straight month, due chiefly to higher crude oil prices, the Bank of Japan said Thursday.
The producer price index for August stood at 101.7 against 100 for the base year of 2015, according to the central bank.
Prices surged 25.3 percent for petroleum and coal products.
Nonferrous metal prices were up 0.6 percent. The pace of growth slowed sharply from 5.0 percent in the previous month, as international market prices for copper and aluminum fell amid worries over the U.S.-China trade dispute.
Steel prices went up 4.1 percent thanks to brisk domestic demand.
Prices of agricultural, forestry and fisheries products climbed 4.8 percent, reflecting lingering impacts from torrential rains in western Japan and extreme heat across the country.
Meanwhile, prices of electric instruments and those of transportation equipment both fell 0.4 percent.
The BOJ plans to keep a close watch on how producer prices will be affected by crude oil price movements, a typhoon that hit western Japan, a major earthquake that rocked northern Japan, the relationship between the United States and China and the courses of currencies of emerging economies, an official of the central bank said.Speech