Tokyo, June 10 (QNA) Prices of goods traded between Japanese companies rose in May, recording their fastest growth rate in more than three years, driven by rising petroleum product prices.
The Japan Broadcasting Corporation (NHK), citing data from the Bank of Japan, reported that the Producer Price Index (PPI) increased by 6.3 percent in May compared to the previous year, marking the largest increase since March 2023.
This rise was primarily driven by a 13.8 percent increase in petroleum and coal product prices, including gasoline, amid continued high crude oil prices due to the repercussions of tensions in the Middle East.
Prices of chemical and related products, such as polyethylene, also jumped 13.4 percent, supported by rising prices of naphtha used in petrochemical industries. Non-ferrous metal prices saw a significant surge of 42.2 percent. (QNA)