Japan’s producer prices rose sharply in April, as Bank of Japan (BOJ) data showed that higher fuel and energy costs spread through the economy, adding to pressure on policymakers ahead of next month’s interest rate decision.
The BOJ said on May 15 that Japan’s Producer Price Index, a measure of prices businesses charge one another, increased 2.3 percent in April from the previous month and 4.9 percent from a year earlier.
The report also showed prices for imported goods and exported goods increased during the month.
Petroleum and coal products made the biggest contribution to April’s rise in wholesale prices, adding 0.75 percentage points to the index increase. Chemicals and utility-related costs also climbed significantly during the month, contributing 0.48 and 0.47 percentage points, respectively….
Japan Producer Prices Rise as Energy Costs Add Pressure Ahead of BOJ Rate Meeting
