— Japan May Corporate Service Prices +0.1% Y/Y; Apr +0.2%
— Japan May Corp Service Prices Post 2nd Y/Y Rise in Row
TOKYO (MNI) – Japan’s corporate service price index rose 0.1%
year-on-year in May after rising 0.2% in April, marking the second
straight month of increase, data released by the Bank of Japan showed on
Tuesday.
In April, CSPI posted the first year-on-year gain in more than
three years, since +0.9% in September 2008.
The rise in May was mainly caused by higher year-on-year gains in
costs of transportation as well as those for newspaper advertisements
and TV commercials.
Total CSPI, which stood at 96.1 in May against 100 in the 2005 base
year, fell 0.4% from the previous month, after remaining unchanged in
April.
Core CSPI excluding international transportation, a measure free of
volatile factors, was up 0.2% from a year earlier in May following a
0.4% rise in April.
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
** MNI Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$,MT$$$$]