Japan Producer Price Inflation Eases To 2.5%

(RTTNews) - Japan's producer price inflation eased in August from an 11-month high in July, the Bank of Japan said on Thursday.

The producer price index climbed 2.5 percent year-over-year in August, slower than the 3.0 percent rise in July. The expected increase was 2.7 percent.

Prices for nonferrous metals grew 11.4 percent compared to last year, and those for electric power, gas, and water increased by 10.6 percent. The price index for agriculture, forestry, and fishery products rose by 5.3 percent.

On a monthly basis, producer prices dropped 0.2 percent in August, reversing 0.5 percent rise in July. Further, this was the first decrease in ten months.

Data showed that both export and import prices grew 2.6 percent annually in August.