Corporate Price Index Falling for Second Consecutive Month Impact of New Corona BOJ April 10, 11:16
Last month's Corporate Price Index, which shows the price movement of goods traded among companies, fell below the previous month for the second consecutive month. Demand for crude oil and copper, etc., fell sharply due to the worldwide spread of the new coronavirus, and prices fell.
The Bank of Japan conducts monthly surveys and interviews with domestic companies to examine the price movements of goods being traded between companies.
Last month's Corporate Price Index, released on the 10th, was 101.1, an average of 100 in 2015, down 0.9% from the previous month. This is the second consecutive month below the previous month, and the decline has been the largest since January 2016, when oil prices dropped sharply as the Chinese economy slowed.
This is due to the spread of the new coronavirus, which restricted the movement of people and goods, reduced corporate production activities and personal consumption, and led to a sharp decline in prices of crude oil and copper worldwide.
The Bank of Japan says, "The timing of the confluence of the new coronavirus is uncertain, and the economic outlook is extremely uncertain. We will look closely at the impact on prices through the impact on businesses and households."