— See Separate Table For Details Of Individual Forecasts
TOKYO (MNI) – Japan’s corporate goods price index (CGPI) for August
is expected to have risen 2.7% on year, marking the 11th straight y/y
rise, as commodity prices maintained on-year gains, according to the
median forecast by economists surveyed by Market News International.
The Bank of Japan will release the August CGPI data at 0850 JST on
Monday, Sept. 12 (2350 GMT Sunday).
CGPI rose 2.9% y/y in July, posting the highest gain since +4.5%
seen in October 2008 and following +2.1% in May and +2.5% in April.
But economists said the pace of y/y increase is expected to have
slowed in August, compared with July, reflecting smaller y/y gains in
commodity prices as well as the strong yen, which lowers import costs.
The BOJ’s overseas commodity index — composed of 17 items
including crude oil, copper, gold, wheat and beef — stood at 205.2
(against 100.0 for the 2005 base year) in August, up 40.9% on year,
slowing from +41.4% in July.
The dollar averaged at Y77.09 in August, compared with Y79.44 in
July and Y85.44 in August 2010.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]