Japan March PPI data: 1.4% y/y (expected 1.4%)

Japan PPI

1.4% y/y

• expected 1.4% y/y, prior 1.1%, revised from 1.0%

0.2% m/m

• expected 0.3% m/m, prior 0.3%, revised from 0.2%

The PPI measures company to company prices, what they are charging each other.

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Bank lending data out at the same time:

• Lending including trusts +3% y/y (prior 2.8%) ... at 3% the fastest growth in lending since May of 2009 - a positive sign if you are looking for reflation in Japan
• Excluding trusts +3% y/y (expected +3%, prior +2.9%)