News On Japan

Japan's Corporate Prices Continue to Break Records

TOKYO, Jun 12 (News On Japan) - Japan's Corporate Goods Price Index (CGPI), which indicates the prices of goods traded among companies, has reached a record high for the sixth consecutive month.

According to preliminary data released by the Bank of Japan for May, the CGPI was 122.2, a 2.4% increase compared to the previous year.

This is the highest figure since comparable data became available in 1980, marking the 39th consecutive month of year-on-year increases.

The rate of increase has been expanding recently, with the index rising by more than 2% for the first time in eight months.

One factor driving up the numbers is the 'renewable energy surcharge,' which was raised in April to promote the use of renewable energy. This has significantly increased the cost of electricity for businesses.

Additionally, rising prices for copper products and raw materials, which have continued to surge globally, are also contributing to the increase, particularly in the food and beverage sector.

Source: ANN

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