Last year, the price level of services provided to businesses increased by 1.7% compared to the previous year.
Factors such as soaring energy prices following Russia's invasion of Ukraine led to the largest increase in 30 years, excluding the impact of the consumption tax hike.
According to the corporate services price index released by the Bank of Japan, last month's preliminary figure was 107.7 with the 2015 average of 100, an increase of 1.5% from the same month of the previous year and an increase of 22 consecutive months. .
As a result, the index for the past year was 106.9, the highest level in 22 years since 2000.
Service prices are said to be more difficult to rise than prices of goods, but the rate of increase is 1.7%, the largest increase in 30 years since 1992, excluding 2014 when the consumption tax rate was raised.
This was mainly due to the surge in energy prices against the backdrop of Russia's invasion of Ukraine, as well as the rise in prices for transportation and postal services and accommodation services due to the easing of restrictions on movement due to the novel coronavirus. It's a factor.
The BOJ said, ``The situation in Ukraine and the novel coronavirus continue to be highly uncertain, but we will continue to closely monitor the impact of international commodity and shipping market conditions, wage trends, and other factors on corporate service prices.'' I'm doing it.