Japan's Wholesale Prices up 1.3% in 2013

(MENAFN- Qatar News Agency) Japan's wholesale prices rose 1.3% in 2013 after declining 0.9% the previous year due to a weaker yen, which pushed up prices of oil and coal products, the Bank of Japan said Thursday

The index of corporate goods prices stood at 101.9 against the 2010 base of 100, the central bank said in a preliminary repor

A BOJ official said that the prices of petroleum and coal products climbed 8.8% from a year earlier, and electricity, gas and water bills grew 8.4% due to higher import costs of such natural resources as the yen depreciated about 20% from a year before, according to Japan's (Kyodo) News Agenc

Lumber and wood products prices were up 8.7% due to increased housing starts in both Japan and the United States, the official sai

Meanwhile, prices of electrical machinery and equipment fell 1.8% due to fierce price competition between manufacturers.

Japan's export prices increased 11.6% from the previous year for the first rise in six years in yen terms but were down 1.9% on a contract currency basi

Import prices gained 14.5% in yen terms but fell 1.7% on a contract currency basi

In December alone, wholesale prices gained 2.5% from a year earlier for the ninth straight month of increas

On a month-on-month basis, the December index was up 0.3% from November, the central bank sai

The prices were lifted by oil and coal products due to the yen's slide versus other major currencies as well as higher lumber and wood product prices on strong demand for building materials before the sales tax hike in Apri

In December, export prices increased 12.4% from a year before in yen terms and import prices gained 17.6

"We will carefully monitor whether the rising trend of prices will continue amid a moderate economic recovery and whether the pace of the yen's depreciation will slow down," the official sai

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.