Producer prices up 2.5% in Feb.

March 13, 2018

Tokyo- Japan's producer price index for February grew 2.5 percent from a year before, up for the 14th straight month, the Bank of Japan said Tuesday.

The growth reflected higher crude oil and nonferrous metal prices.

The producer price index for February stood at 100.3 against 100 for the base year of 2015.

Petroleum and coal products prices surged 11.6 percent.

Prices of copper and other nonferrous metals rose 8.6 percent as demand grew on the back of the brisk global economy, while those of iron and steel increased 6.1 percent thanks to robust domestic demand.

"A global demand expansion has been pushing up prices," a BOJ official said.

But foreign exchange rate fluctuations could help push down prices, the official also said, showing an intention to closely watch such factors. Jiji Press