The PPI data comes from the Bank of Japan.
Producer Price Index (YoY) (May) +3.2%
expected 3.5%, prior 4.0%
Producer Price Index (MoM) (May) -0.2%
expected 0.2%, prior 0.2%
Yesterday Bank of Japan Governor Ueda expressed worry about inflation (at the consumer level) falling short of his 2% taregt:
Underlying inflation still below 2%
This data is consumer level inflation, but it feeds into it. Declining price pressures here may leve Ueda disappointed for a while yet.
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Japan’s Services Producer Price Index (PPI) measures the average change over time in the prices received by service providers (in the private sector) for their services in Japan:
Data published by the Bank of Japancovers services such as transportation and communication, finance and insurance, wholesale and retail trade, and others
This article was written by Eamonn Sheridan at www.forexlive.com.