Japan Producer Prices Change

Producer prices in Japan increased by 3.7% yoy in November 2024, following an upwardly revised 3.6% growth in the previous month and exceeding market estimates of 3.4%. It was the 45th straight month of producer inflation, marking the highest figure since July 2023, as cost rose further for most commodities: transport equipment (1.0% vs 1.0% in October), beverages & foods (1.8% vs 1.9%), petroleum & coal (1.6% vs 4.9%), iron & steel (0.2% vs 0.3%), electrical machinery (3.7% vs 4.0%), production machinery (1.6% vs 2.2%), general-purpose machinery (3.9% vs 3.7%), metal products (3.7% vs 4.4%), other manufacturing (3.8% vs 3.6%), plastics (3.2% vs 2.7%), non-ferrous metals (13.6% vs 14.7%), information (3.2% vs 2.9%), and business-oriented machinery (2.4% vs 2.0%). In contrast, prices of chemical products continued to fall (-0.4% vs -0.7%). Monthly, producer prices rose by 0.3%, holding steady for the third month running and topping forecasts of 0.2%.

Producer prices in Japan increased by 3.4% yoy in October 2024, steeper than an upwardly revised 3.1% growth in the previous month and above market forecasts of 3.0%. It was the 44th straight month of producer inflation, marking the highest figure since August 2023, as cost rose further for most commodities: transport equipment (1.1% vs 1.3% in September), beverages & foods (1.8% vs 2.1%), petroleum & coal (4.5% vs 1.5%), iron & steel (0.3% vs 0.4%), electrical machinery (3.7% vs 3.3%), production machinery (2.6% vs 4.1%), general-purpose machinery (3.4% vs 3.2%), metal products (3.9% vs 2.8%), other manufacturing (3.6% vs 3.7%), plastics (2.7% vs 2.2%), non-ferrous metals (14.6% vs 9.7%), information (2.4% vs 3.6%), and business-oriented machinery (1.9% vs 2.8%). By contrast, prices of chemical products fell 0.6% after rising 0.3% previously. Monthly, producer prices rose by 0.2%, beating consensus of a flat reading and following an upwardly revised 0.3% gain in September.

Producer prices in Japan increased by 2.8% yoy in September 2024, after the softest rise in three months of 2.6% growth in the prior month and above market estimates of 2.3%. It was the 43th straight month of producer inflation, due to further rises in the cost of transport equipment (1.3% vs 1.3% in August), beverages & foods (2.0% vs 2.2%), chemicals (0.3% vs 1.1%), electrical machinery (2.5% vs 2.4%), production machinery (3.7% vs 3.7), general-purpose machinery (3.2% vs 3.4%), metal products (2.7% vs 2.9%), other manufacturing (3.6% vs 3.2%), plastic products (2.0% vs 2.0%), non-ferrous metals (9.7% vs 11.4%), information (3.5% vs 3.0%), and business-oriented machinery (3.2% vs 3.4%). At the same time, prices rebounded for petroleum & coal (1.3% vs -3.8%) and iron & steel (0.2% vs -0.2%). Monthly, producer prices fell were flat, beating consensus of a 0.3% decline and following a 0.2% drop in August.