Japan’s Services Inflation Rises 3.7% as Freight Prices Surge
Photo: TokenPost
Japan’s services producer prices accelerated in September as ocean freight costs surged, while inflation in high-labor-cost services slowed, adding a mixed signal before the Bank of Japan’s next policy review. The preliminary Services Producer Price Index (SPPI) rose 3.7% from a year earlier, up from August’s revised 3.5%. The index, which uses 2020 as its base year, increased 0.3% from the previous month and reached 115.5. The data were released at 7:50 p.m. ET Oct. 26 (11:50 p.m. UTC), corresponding to 8:50 a.m. Japan time Oct. 27. Ocean freight prices rose 97.7% year over year, compared with August’s revised 74.6%.
Source: TokenPost
