Last month's preliminary figures for the corporate goods price index, which shows the prices of goods traded between companies, rose by more than 3% from the same month last year due to the rise in crude oil prices, marking the second consecutive month of increase.
The preliminary figures for the corporate goods price index released by the Bank of Japan last month were 103, which was an index with an average of 100 in 2015, which was 3.6% higher than the same month last year.
This is the second consecutive month of increase, the highest level in about six and a half years since September 2014.
This is because the prices of "petroleum / coal products" and "chemical products" have risen in response to the progress of vaccination with the new coronavirus in various countries around the world and the rise in crude oil prices due to expectations for economic recovery.
In addition, the prices of "non-ferrous metals" and "steel", which are in high demand, have also risen due to the increase in automobile production.
Regarding the outlook for the future, the Bank of Japan said, "Corporate prices continue to rise, driven by overseas demand, but trends such as crude oil prices remain uncertain due to the spread of the new coronavirus infection in India and other countries." As a result, he is cautious about the continuous rise in prices.