Loading
Search
▼ Japan Producer Price Index At 36-Year High
- Category:Other
Executives at Japanese companies are feeling the effects of surging crude oil prices on their bottom line. They're paying the highest prices in nearly 36 years for goods they trade with other firms.
Bank of Japan officials say the producer price index for November was up 9 percent from a year earlier. The figure has been climbing for nine months in a row. The November increase was the steepest year-on-year jump since January 1981.
Central bank officials say the main factor is rising prices for gasoline, electricity and natural gas, which are all being driven up by crude oil prices.
The index is a measure of price levels for more than 700 items. In November, the cost of roughly 60 percent of those goods increased. Steel, and mass produced foods and drinks were all more expensive.
BOJ officials say they're keeping a close eye on the situation. They're watching to see what impact the Omicron coronavirus variant may have.
Bank of Japan officials say the producer price index for November was up 9 percent from a year earlier. The figure has been climbing for nine months in a row. The November increase was the steepest year-on-year jump since January 1981.
Central bank officials say the main factor is rising prices for gasoline, electricity and natural gas, which are all being driven up by crude oil prices.
The index is a measure of price levels for more than 700 items. In November, the cost of roughly 60 percent of those goods increased. Steel, and mass produced foods and drinks were all more expensive.
BOJ officials say they're keeping a close eye on the situation. They're watching to see what impact the Omicron coronavirus variant may have.
- December 10, 2021
- Comment (0)
- Trackback(0)