TOKYO (MNI) – Japan’s corporate service price index fell 0.5% on
year in September, marking the fourth straight y/y drop on continued
lower costs of transportation and leasing services, data released by the
Bank of Japan showed on Thursday.
The pace of the year-on-year decline accelerated from a 0.3% fall
in August. Falls in transportation, leasing and software development
costs outpaced higher prices of architectural design services.
In April, CSPI rose 0.3%, posting the first year-on-year gain in
more than three years since +0.9% in September 2008.
Total CSPI, which stood at 95.6 in September against 100 in the
2005 base year, was unchanged from the previous month, after falling
0.3% in August, a fourth straight drop.
Core CSPI excluding international transportation, a measure free of
volatile factors, was down 0.3% on year in September, after falling 0.2%
in August and being flat in July.
The downward pressure on prices has generally eased since total
CSPI posted a record drop of -3.8% in August 2009, which was the largest
decline since the BOJ began compiling CSPI data in January 1985.
The corporate services price index tracks prices for a wide range
of corporate services, ranging from finance and insurance charges to the
cost of shipping goods by road rail, air or sea.
tokyo@mni-news.com
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