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Producer prices in Japan climbed 2.3 percent in January compared with the same month last year, the Bank of Japan reported Thursday, reflecting higher costs for food and metals. The increase was slightly slower than December’s 2.4 percent gain.
The index, which tracks the prices of goods exchanged between companies, reached 128.4 against a 2020 baseline of 100. It has risen for nearly five straight years, indicating persistent upward pressure on production costs.
Out of 515 goods surveyed, more than two-thirds recorded price gains, while about a quarter showed declines, the central bank said.
Agricultural commodities were a major factor, with rice and salmon among the products pushing costs higher, though the pace of growth eased from December. Rice prices in particular have largely stabilized after previous sharp increases.
Nonferrous metals surged, led by copper, which contributed to a 33 percent rise in this category, marking the fastest increase among major inputs.
Food and beverages also registered higher costs, rising 4.7 percent as producers passed part of the expense to consumers, slightly lower than the previous month’s 4.8 percent jump.
The Bank of Japan noted that while some input costs remain elevated, overall price pressures are showing signs of moderation, reflecting both market adjustments and the impact of earlier commodity price swings.