Still suggesting inflation moderately above central bank targets, Japan's producer price index (PPI) rose 2.7% on year in November, unchanged from October, the Bank of Japan reported on Wednesday.
The November PPI logged up 0.3% from October, following a 0.5% rise in October from the previous month, the central bank said.
The beverages and food PPI rose 4.9% on year in November, while the non-ferrous metals index rose 14.9%, the latter reflecting higher global copper prices.
In contrast, chemical products declined 3.6% on year in November at the producer level, while petroleum and coal bills fell 2.6%. Iron and steel prices declined 6.8% in the year to November.
Japan's PPI measures the costs of goods at the factory gate, in business-to-business transactions, and is distinct from the consumer price index (CPI), which gauges prices faced by ordinary shoppers at retail locations.
However, the PPI is considered as one leading indicator of the CPI, as retailers pass on cost hikes or savings to customers.
The Bank of Japan next meets on Dec. 18-19 to ponder monetary policy.
The central bank has 2% inflation target for CPI-core, which strips out certain food and energy bills, but inflation has been running near 3% by that metric.
The central bank has maintained a 0.50% key policy interest rate since January, as it weighs sluggish economic growth against rates of inflation moderately above target.
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