November 14, 2023
In October 2023, producer prices in Japan climbed by 0.8% year on year, easing from an upwardly revised 2.2% increase the previous month and coming in slightly below market expectations of 0.9%. This was the lowest producer inflation since February 2021, and it was the ninth consecutive month of a decline in the reading. Cost eased further for transport equipment (2.6% vs 2.7% in September), beverages & food (5.4% vs 6.1%), petroleum & coal (4.9% vs 5.7%), electrical machinery (3.4% vs 4.2%), metal products (6.1% vs 7.8%), other manufacturing industry (6.6% vs 7.2%), plastics (0.7% vs 2.0%), non-ferrous metals (3.9% vs 5.7%), production machinery (3.5% vs 4.6%), and general-purpose machinery (4.2% vs 4.9%). At the same time, prices fell for iron & steel (-3.9% vs 1.1%) and chemicals (-2.5% vs -2.5%). By contrast, cost accelerated for business-oriented machinery (3.0% vs 2.6%) and information (1.7% vs 1.6%). Monthly, producer prices shrank 0.4%, the fifth decline so far this year
Source: Trading Economics
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