Source: Bank of Japan
Japanese producer prices grew for the seventh straight month to reach a 13-year high in August, as commodity prices continued to surge. EWJ is up 0.72% premarket.
- Producer prices climbed by 6.3%, following the 5.8% in both June and July. The latest reading is the highest since September 2008.
- Costs of chemicals, petroleum and coal products, iron and steel, and metal products, and electronic components accelerated faster than the previous month.
- Increases were also recorded in beverages and foods, and non-ferrous metals, while production machinery and other manufacturing industries were flat.
- Rebounds were recorded in the cost of electric machinery and general machinery.
- Declines were recorded in transportation equipment and information.
- Month-on-month producer prices were up 0.3% following the 0.1% climb in July.