— See Separate Table For Details Of Individual Forecasts
TOKYO (MNI) – Japan’s corporate goods price index (CGPI) for
September is expected to have risen 2.4% on year, with the pace of
increase slowing from +2.6% in August, as y/y growth in commodity prices
are decelerating, according to the median forecast by economists
surveyed by Market News International.
The Bank of Japan will release the September CGPI data at 0850 JST
on Friday, Oct. 14 (2350 GMT Thursday).
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.
Economists said the pace of y/y increase is expected to have
decelerated in September, compared with August, 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 185.9
(against 100.0 for the 2005 base year) in September, up 19.5% on year,
slowing from +40.9% in August.
The dollar averaged at Y76.78 in September, compared with Y77.09 in
August and Y84.31 in September 2010.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
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