May 17 (NHK) - Japan's producer prices have risen for a second straight month, echoing what's been happening worldwide as economies reopen from the pandemic and crude oil prices climb.
The Bank of Japan said in its preliminary report that the producer price index was up 3.6 percent last month from a year earlier. That is the biggest spike since September 2014.
Higher crude prices pushed up petroleum, coal and chemical products. That suggests there is optimism for an economic recovery as the coronavirus vaccine programs progress.
Rising automobile production also boosted the prices of iron, steel and non-ferrous metals.
Bank of Japan officials say external demand is driving up prices, but the outlook for oil and other products remain highly uncertain because of the surge of infections in India and elsewhere.