Japan’s Corporate Price Index Shows Slight Increase in July 2023

The latest data released by the Bank of Japan’s Survey and Statistics Bureau reveals that Japan’s domestic corporate price index has shown a slight increase in July 2023. The index, which measures the changes in prices of goods and services produced by domestic companies, rose by 0.1% compared to the previous month. However, on a year-on-year basis, the index increased by 3.6%. This growth can be attributed to various factors, including adjustments in summer electricity rates.

The report also provides insights into the export and import price indices for the same period. The export price index, based on contracted currencies, saw a marginal decrease of 0.1% compared to the previous month. However, when measured in yen, the export price index increased by 0.1% on a year-on-year basis.

On the other hand, the import price index, measured in both contracted currencies and yen, experienced a more noticeable decline. The index decreased by 0.4% in contracted currencies and by 0.3% in yen when compared to the previous month. Year-on-year figures showed a significant decrease of 14.1% in contracted currencies and 14.3% in yen.

These indices provide valuable insights into the state of Japan’s economy, as they reflect changes in the costs of production, trade dynamics, and currency fluctuations. Experts are closely monitoring these trends to assess the potential impact on various sectors and the overall economic outlook.

It’s important to note that these indices are calculated based on a baseline year of 2020, where the average index value is set to 100%.

For more detailed information and historical data, you can visit the Bank of Japan’s official website: https://www.stat-search.boj.or.jp/index.html.