– Japan Jan Corp Service Prices Post 1st Y/Y Fall in 2 Months
TOKYO (MNI) – Japan’s corporate service price index fell 0.2% in
January, marking the first year-on-year fall in two months following
+0.1% in December, Bank of Japan data released on Friday showed.
The weak January reading was due mainly to the drop in prices for
advertising services (-0.14 percentage point on year).
Meanwhile, core CSPI excluding international transportation, a
measure free of volatile factors, was down 0.3% from a year earlier in
January, after being flat in December.
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 total CSPI, which stood at 95.8 in January against 100 in the
2005 base year, was down 0.6% from the previous month, after being flat
in December.
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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