Japan producer prices rise 3 percent in June amid stable monthly wholesale prices
Date
7/25/2024 8:26:24 AM
(MENAFN) The bank of Japan announced on Thursday that producer prices, also known as wholesale prices, rose by 3 percent in June, marking an increase from the 2.7 percent rise reported for May, according to revised data. The preliminary data had initially indicated a 2.5 percent rise for May. This uptick reflects a continued upward trend in wholesale prices, driven by various economic factors affecting production costs and pricing.
On a month-to-month basis, wholesale prices remained unchanged for the second consecutive month, suggesting a stabilization after previous fluctuations. This steadiness indicates that despite the overall increase in prices compared to the previous year, there was no significant month-over-month change in the immediate pricing environment.
When excluding international transport prices, the wholesale prices of services remained steady in June relative to May. However, there was a noticeable increase of 3 percent when compared to the same month in the previous year. This indicates that while the immediate month-to-month pricing has stabilized, there is still a significant year-over-year rise in wholesale service prices.
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