Corporate price index fell for 2 consecutive months in October Demand for steel, wood, etc. was sluggish November 12, 10:40
Last month's corporate goods price index, which shows the prices of goods traded between companies, fell 0.2% from the previous month, excluding the impact of the consumption tax hike, and fell for the second straight month.
The main reason is that demand for steel and wood is sluggish due to the influence of the new coronavirus.
Last month's preliminary figures for the corporate goods price index released by the Bank of Japan were 100 in 2015, and the index excluding the impact of the consumption tax hike last year was 98.4, 0.2% lower than the previous month.
This was due to the fall in crude oil prices and the declining demand for products such as steel and wood due to the impact of the new coronavirus, which was the second consecutive month of decline.
It has fallen 2.1% compared to the same month last year and remains at a low level.
Regarding the outlook for the future, the Bank of Japan said, "The improvement of economic activity has been slowing down due to the influence of the new coronavirus, which is weighing on corporate prices. Weak domestic demand continues to be seen, and the impact on prices. I want to pay close attention to it. "