Japan's producer price inflation experienced a deceleration in August following an 11-month high in July, according to the Bank of Japan's report released on Thursday.
The producer price index (PPI) recorded a 2.5% year-over-year increase in August, down from the 3.0% rise noted in July. Analysts had anticipated an increase of 2.7%.
Nonferrous metal prices surged by 11.4% compared to the previous year, while prices for electric power, gas, and water saw a 10.6% rise. The price index for agriculture, forestry, and fishery products also registered a 5.3% increase.
On a month-over-month basis, producer prices decreased by 0.2% in August, overturning the 0.5% rise observed in July, marking the first decline in ten months.
The data further indicated that both export and import prices saw an annual growth of 2.6% in August.
