Japan's wholesale prices up 0.4% in May on year

12:57, June 10, 2010      

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Japanese wholesale prices rose 0.4 percent in May compared to a year earlier, the Bank of Japan (BOJ) said in a preliminary report on Thursday.

The BOJ's figures beat median forecasts of a 0.2 percent rise and marked the first time producer prices have risen in 17 months, the central bank's report said.

The result for the Corporate Goods Price Index was 0.1 percent higher than April's reading, standing at 103.2 against the 2005 base of 100, the BOJ said in a preliminary report.

Finished products charged to businesses, including the costs companies pay for energy, fell 1.3 percent in May from a year earlier and domestic final goods prices, which loosely track the consumer price index, decreased by an annual 1.0 percent in May, said the report.

Emerging economies are boosting demand for Japan's raw materials, increasing prices for Japanese companies that are still struggling to pass on costs amid lingering deflation at home.

Gasoline and other petroleum products were among the leading contributors to the rise, the BOJ said.



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