Japan's producer price index up 2.4% YoY in May; WPI jumps

The increase was 1.1 per cent YoY in April. The figure hit the 2-per cent level for the first time in eight months.

On a monthly basis, producer prices increased by 0.7 per cent compared to a revised 0.5-per cent gain in April, the biggest climb since December 2022, according to domestic media reports.

Japan's wholesale price inflation jumped in the month due to rising electricity cost and a weak yen, the latter being also responsible for high import prices.

The primary factor behind the rise in producer prices was a surcharge added to electric bills to cover the cost of renewable energy raised last month.

Producer prices grew for 394 of the 515 items surveyed in May and fell for 103.

ALCHEMPro News Desk (DS)