Last month, the price level of services provided to businesses increased by 1.0% due to the rise in freight transportation and accommodation services, which had fallen due to the spread of the new coronavirus infection last year, for the sixth straight month. It surpassed the same month of the previous year.
Last month's preliminary figures for corporate service prices released by the Bank of Japan were 105.0, an index with an average of 100 in 2015, up 1.0% from the same month of the previous year, rising for the sixth straight month.
By sector, “sea freight transport” by ship rose 28.9% due to active cargo movements of Australian iron ore as economic activity resumed.
“Domestic air freight transportation” increased by 32%, “TV advertising” increased by 16.4%, and “accommodation service” also increased by 8.9% due to the increase in accommodations by Olympic officials in the Kanto region.
The Bank of Japan said, "When the state of emergency is lifted in the future, we would like to carefully look at how much demand will recover for accommodation services, which have fallen to low levels due to the resumption of economic activities."