— Japan Apr Corporate Service Prices +0.2% Y/Y; Mar -0.2%
— Japan Apr Corp Service Prices Post 1st Y/Y Rise Since Sep 2008
TOKYO (MNI) – Japan’s corporate service price index rose 0.2% in
April after falling 0.2% in March, posting the first year-on-year gain
in more than three years since +0.9% in September 2008, Bank of Japan
data released on Monday showed.
The rise in April was mainly caused by higher year-on-year gains in
costs for newspaper advertisements and TV commercials as well as
software development prices, hotel charges and Tokyo office rents.
Total CSPI, which stood at 96.5 in April against 100 in the 2005
base year, was unchanged from the previous month, after +0.9% m/m in
March.
Meanwhile, core CSPI excluding international transportation, a
measure free of volatile factors, was up 0.4% from a year earlier in
April after -0.3% in March.
The downward pressure on prices has generally eased since total
CSPI posted a record drop of -3.8% in August 2009, which was the largest
decline since the BOJ began compiling CSPI data in January 1985.
The corporate services price index tracks prices for a wide range
of corporate services, ranging from finance and insurance charges to the
cost of shipping goods by road rail, air or sea.
tokyo@marketnews.com
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