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Japanese corporate prices continue to break records

TOKYOJune 12 (News On Japan) – Japan’s Corporate Goods Price Index (CGPI), which measures the prices of goods traded between companies, has reached a record high for the sixth month in a row.

According to preliminary data released by the Bank of Japan for May, the CGPI was 122.2, up 2.4% from the previous year.

This is the highest figure since comparable data became available in 1980, marking the 39th consecutive month of year-over-year increases.

The rate of increase has picked up recently, with the index up more than 2% for the first time in eight months.

One factor driving up the figures is the ‘renewable energy surcharge’, which was increased in April to encourage the use of renewable energy. As a result, electricity costs for companies have increased significantly.

In addition, rising prices for copper products and raw materials, which have continued to rise globally, are also contributing to the increase, especially in the food and beverage sector.

Source: ANN

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