— Japan Sep Corp Goods Prices -1.4% Y/Y; MNI Median Fcast: -1.4%
— Japan Sep CGPI Posts 6th Straight Y/Y Drop; Aug Revised -1.9%

TOKYO (MNI) – Japan’s corporate goods price index posted the sixth
straight year-on-year fall in September, down 1.4%, but the pace of
declines slowed from a downwardly revised -1.9% in August due to higher
fuel costs and smaller drops in nonferrous metal prices, data released
Friday by the Bank of Japan showed.

The September drop was in line with the median forecast for a 1.4%
drop in an MNI survey of economists.

After hitting a record 8.5% drop on year in August 2009, CGPI
reached a recent peak of +2.2% in July and August 2011.

From the previous month, CGPI rose 0.3% in September, marking the
second consecutive month-on-month rise, led by higher costs of petroleum
and coal products as well as nonferrous metals.

The number of CGPI items whose prices rose from a year earlier
totaled 235 in September, or 28.6% of the basket, while the number of
items whose prices fell came to 504, or 61.3%.

It is the seventh straight month that the number of decliners has
exceeded that of gainers.

** MNI Tokyo Newsroom: 81-3-6860-4822 **