Japan's Services Producer Price Index Rises 3% in February

MT Newswires Live03-26

Japan's services producer price index (SPPI) rose 3% in February from a year earlier, easing from a 3.2% gain in January, Bank of Japan data showed on Wednesday.

Excluding international transportation, the index rose 3.1%, slowing from a 3.3% increase the previous month.

The slowdown was driven by lower costs in real estate and property and casualty insurance, while gains in software development and leasing provided upward pressure.

Advertising services rose 0.7% from a year earlier, while hotel prices increased 11.8%, down from a 16.8% rise in January. Ocean freight transportation fell 5.3%, deepening from a 1.9% drop the previous month.

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