TOKYO, Nov. 13 (Xinhua) — Producer costs in Japan rose 0.8 % in October from a 12 months earlier, marking the slowest tempo of progress because the 0.9 % drop in February 2021, the Bank of Japan (BOJ) reported Monday.
While the producer worth index, which measures prices of products traded between companies, rose for 32 months in a row, the tempo of enhance decelerated for the tenth consecutive month, the central financial institution stated in a preliminary report, supporting the BOJ’s view that inflation is cooling.
Government subsidies aimed toward curbing gasoline costs helped push down the index by about 1 proportion level, the BOJ stated.
Producer costs climbed for 405 of the 515 gadgets surveyed by the central financial institution, with meals and drinks costs rising 4.9 % amid greater uncooked supplies and gas prices.