Japan data – April PPI -0.2% m/m (expected +0.2%) & +3.2% y/y (expected +3.5%)

• The PPI is also known as the Corporate Goods Price Index
  

The PPI data comes from the Bank of Japan.

Producer Price Index (YoY) (May) +3.2%

• expected 3.5%, prior 4.0%

Producer Price Index (MoM) (May) -0.2%

• expected 0.2%, prior 0.2%

Yesterday Bank of Japan Governor Ueda expressed worry about inflation (at the consumer level) falling short of his 2% taregt:

• Underlying inflation still below 2%

This data is consumer level inflation, but it feeds into it. Declining price pressures here may leve Ueda disappointed for a while yet.

Japan’s Services Producer Price Index (PPI) measures the average change over time in the prices received by service providers (in the private sector) for their services in Japan:

• Data published by the Bank of Japan
• covers services such as transportation and communication, finance and insurance, wholesale and retail trade, and others