Bank of Japan data on wholesale inflation in January 2022
Producer Price Index is also known as the Corporate Goods Price Index, which is probably a better indication as to what it is.
January PPI +0.6% m/m
- expected +0.4%, prior 0.0%
+8.6% y/y
- expected +8.2%, prior 8.7%
These are hefty increases but so far the pass-through to consumer prices is very limited. The Bank of Japan target for consumer level inflation is 2% and data for this shows the current rate is well below.
