Producer Price inflation in Japan for June 2019

-0.5% m/m

  • expected -0.1% m/m, prior -0.1%

-0.1% y/y

  • expected 0.4% y/y, prior 0.7%

Producer Price Index is inflation at a business-to-business level (in a nutshell). It is also known as the Corporate Goods Price Index, which is probably a better guide to what it is.

It is not is CPI (consumer price inflation). there is, however, a detail in this release that does loosely track consumer level inflation, the Domestic final good prices. Comes in at -0.4% y/y.

If the BOJ is looking for any further reasons not to cut back on easing (they aren't, they have plenty) this release should help out.