Japanese PPI (Producer Price Index, previously known as the Corporate Goods Price Index (CGPI), measures the change in the selling prices of goods purchased by companies in Japan (in a nutshell))
-9.5% y/y
- expected 8.8%, prior 9.1%
+0.7% m/m
- expected 0.5%, prior 0.0%
If PPI gains like this flowed through to CPI gains the BOJ would be considering dialling back ultra-loose monetary policy. So far the flow-through has been very limited. The Bank of Japan see CPI gains as transitory, expecting the CPI to decline ahead.
