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Actual | Forecast | Previous | Revised Form | |
| -5.4% | -5.1% | -4.0% | -3.8% | ||
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For May
Provided by: Bank of Japan Official Release: PDF
CGPI m/m: -0.4%, pr. -0.6% R (Apr), -0.3% (Mar), -0.4% (Feb),
The Corporate Goods Price Index, which measures the costs companies pay for energy and raw materials, slid 5.4% in May from a year earlier. It's the fastest pace that prices have dropped in 22 years. Price declines are set to pick up as oil trades at lower levels than it did last year. If expectations are that these lower prices filter down into finished goods, companies and consumers may delay purchases while waiting for further discounts, continuing to pressure profits which can result in higher layoffs. Consumer prices, excluding food, fell for a second month in April, and the prices companies pay for services is down for a seventh month. Japan has had a history of deflation and central banks have expressed their concern about a deflationary spiral taking hold. |
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| 9/9 | 10/13 | 11/12 | 12/9 | 1/14 | 2/11 | 3/10 | 4/12 | 5/14 | 6/9 | ||
| Actual | 7.2% | 6.8% | 4.8% | 2.8% | 1.1% | -0.2% | -1.1% | -2.2% | -3.8% | -5.4% | |
| Forecast | 7.2% | 6.6% | 5.5% | 3.0% | 0.8% | 0.3% | -1.3% | -1.7% | -3.0% | -5.1% | |
| Previous | 7.1% | 7.2% | 6.8% | 5.0% | 2.8% | 1.1% | -0.3% | -1.6% | -2.5% | -4.0% | |
| Revised From | N/A | N/A | N/A | 4.8% | N/A | N/A | -0.2% | -1.1% | -2.2% | -3.8% | |
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Actual | Forecast | Previous | Revised Form | |
| -3.0% | -2.8% | -2.4% | N/A | ||
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For April
Provided by: Bank of Japan Previous Release: PDF
CSPI m/m: pr. -0.2% (Apr), 0.9% (Mar), 0.2% (Feb), -0.9% (Jan), -0.5% (Dec),
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| 9/24 | 10/26 | 11/24 | 12/24 | 1/26 | 2/23 | 3/25 | 4/23 | 5/25 | 6/23 | ||
| Actual | 1.4% | 0.1% | -1.4% | -1.9% | -2.5% | -2.2% | -2.6% | -2.1% | -2.4% | -3.0% | |
| Forecast | 1.2% | 1.2% | -0.5% | -1.9% | -2.4% | -2.5% | -2.5% | -2.6% | -2.8% | ||
| Previous | 1.3% | 1.4% | 0.1% | -1.4% | -1.9% | -2.5% | -2.4% | -2.6% | -2.1% | -2.4% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | -2.2% | N/A | N/A | N/A | |
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Actual | Forecast | Previous | Revised Form | |
| -2.4% | -2.1% | N/A | |||
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For March
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: -0.2%, pr. 0.9% (Mar), 0.2% (Feb), -0.9% (Jan), -0.5% (Dec),
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Actual | Forecast | Previous | Revised Form | |
| -3.8% | -3.0% | -2.5% | -2.2% | ||
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For April
Provided by: Bank of Japan Official Release: PDF
CGPI m/m: -0.4%, pr. -0.3% (Mar), -0.4% (Feb), -1.5% (Jan), -1.2% (Dec),
Prices that companies pay for energy and raw materials were down 3.8% in April compared to a year ago, a figure that was lower than expected, and the sharpest drop in nearly 22 years. The index which had been as high as 7.1% in August, has now slid into disinflation territory, which is worrying policy makers at the Bank of Japan who want to keep the economy from falling into deflation. However the recession is denting demand for energy and raw material while also curbing spending by companies and consumers. Those factors may bring deflation back into the picture. Deflation creates problems because consumers put off purchases as they seek bigger discounts in the future, which erodes corporate profits and revenue. That in turn leads to layoffs and lower wages, creating a negative feedback loop that weakens the chances of a recovery. |
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Actual | Forecast | Previous | Revised Form | |
| -2.1% | -2.6% | -2.6% | N/A | ||
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For March
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: 0.9% pr. 0.2% (Feb), -0.9% (Jan), -0.5% (Dec), -0.3% (Nov),
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Actual | Forecast | Previous | Revised Form | |
| -2.2% | -1.7% | -1.6% | -1.1% | ||
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For March
Provided by: Bank of Japan Official Release: PDF
CGPI m/m: -0.2%, pr. -0.5% R (Feb), -1.1% (Jan), -1.2% (Dec), -1.9% (Nov),
Wholesale prices fell 2.2% on the year in March, which is the steepest decline in nearly 7 years. The CGPI measures how much companies pay for raw materials and other goods and excludes services. Prices are down on the year as oil has lost about two-thirds of its value compared to its high last July, and the recession is bringing down prices for goods such as grain, steel, and plastics. The threat is that the recession will continue to depress prices which can lead to deflation, a problem the Japanese economy is all too familiar with. The Corporate Service Price index declined 2.6% on the year in February, though that was the 5th straight month of falling prices where the goods prices are down only the lsat 3 months. |
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Actual | Forecast | Previous | Revised Form | |
| -2.6% | -2.5% | -2.4% | -2.2% | ||
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For February
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: 0.2%, pr. -0.9% (Jan), -0.5% (Dec), -0.3% (Nov), -1.2% (Oct),
Amid Japan’s deepening recession, corporate service prices fell for a fifth month in February, falling a slightly more-than-expected 2.6% y/y, the steepest decline in seven years, following January’s downwardly revised 2.4% y/y decrease, data from the Bank of Japan showed. Prices did see a slight increase in monthly terms, the first time that has happened since last July. On the year, lower commodity costs and weaker demand for services pressured prices. A stronger Yen has helped make oil cheaper and has lowered transportation and freight costs. |
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Actual | Forecast | Previous | Revised Form | |
| -1.1% | -1.3% | -0.3% | -0.2% | ||
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For February
Provided by: Bank of Japan Official Release: PDF
CGPI m/m: -0.4%, pr. -1.1% (Jan-r), -1.2% (Dec), -1.9% (Nov), -1.6% (Oct),
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Actual | Forecast | Previous | Revised Form | |
| -2.2% | -2.5% | -2.5% | N/A | ||
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For January
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: -0.9%, pr. -0.5% (Dec), -0.3% (Nov), -1.2% (Oct), -0.4% (Sep),
The prices that companies pay for services, from transportation to rents to shipping costs, fell for a fourth month in a row in annual terms. January's prices were down 2.2% compared to a year ago, which was smaller than forecasts of another 2.5% decline. On the month prices fell 0.9%. Advertising companies are charging less as the economy weakens and landlords are lowering prices as more offices are vacated. Consumer prices, on the year, are expected to show a slide of 0.1%, the first time prices were negative since September 2007. Weaker prices reflect a weaker economy, that in the 4th quarter saw GDP fall at an annual 12.7% pace. Cheaper oil prices are also factoring into lower costs for companies. |
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Actual | Forecast | Previous | Revised Form | |
| -0.2% | 0.3% | 1.1% | N/A | ||
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For January
Provided by: Bank of Japan Official Release: PDF
CSPI y/y: -1.0%, pr. -0.5% (Dec), -0.3% (Nov), -1.2% (Oct), -0.4% (Sep),
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Actual | Forecast | Previous | Revised Form | |
| -2.5% | -2.4% | -1.9% | N/A | ||
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For December
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: -0.5%, pr. -0.3% (Nov), -1.2% (Oct), -0.4% (Sep), -0.5% (Aug),
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Actual | Forecast | Previous | Revised Form | |
| 1.1% | 0.8% | 2.8% | N/A | ||
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For December
CGPI m/m: -1.2%, forecast -1.5%, pr. -1.9% (Nov), -1.6% (Oct), -0.4% (Sep),
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Actual | Forecast | Previous | Revised Form | |
| -1.9% | -1.9% | -1.4% | N/A | ||
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For November
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: -0.3%, pr. -1.2% (Oct), -0.4% (Sep), -0.5% (Aug), 0.0% (Jul),
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Actual | Forecast | Previous | Revised Form | |
| 2.8% | 3.0% | 5.0% | 4.8% | ||
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For November
CGPI m/m: -1.9%, forecast -1.7%, pr. -1.6% (Oct), -0.4% (Sep),
Japan's corporate goods price index cooled to an annual pace of 2.8% in November. The indicator measures the cost that companies pay for goods, including energy and raw materials. On the month, prices were down 1.9%, led by drop in crude oil and other commodities. Still, lower costs to produce are not going to help offset the loss of demand facing companies during this global recession. The news, along with recent data from consumer prices and costs to companies of services show a shift towards deflation. However it remains to be seen if the reduction in oil and energy costs will filter down to other goods and services and feed further expectations of falling prices. |
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Actual | Forecast | Previous | Revised Form | |
| -1.4% | -0.5% | 0.1% | N/A | ||
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For October
Provided by: Bank of Japan Official Release: PDF
CSPI m/m: -1.2%, pr. -0.4% (Sep), -0.5% (Aug), 0.0% (Jul), 0.6% (Jun),
The prices that Japanese companies pay for services, such as transportation, financial services and insurance, advertising, ect., fell 1.4% in October compared to a year ago. Its the first time that the corporate service price index has been negative in more than two years. The biggest fall in prices was the cost for transporting goods. Services such as ocean freight, ship chartering and international air freight fell 1.78%. These were the same goods where prices were sky rocketing earlier in the summer when crude oil costs hit record highs near $150 a barrel. Now oil prices are at the $50 level, as the global crisis in financial markets has put the world's major economies to recession. The demand for oil, and its price, has gone down as the world's economies began contracting. |
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Actual | Forecast | Previous | Revised Form | |
| 4.8% | 5.5% | 6.8% | N/A | ||
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For October
CGPI m/m: -1.6%, forecast -0.9%, pr. -0.4% (Sep), -0.1% (Aug),
Japanese wholesale prices are declining sharply according to the Bank of Japan. The slide in commodity prices are pulling down prices, as the monthly rate of CGPI declined 1.6% for the 3rd straight month of easing. With the Japanese economy also in a bad shape, the CPI has also been decelerating. |
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Actual | Forecast | Previous | Revised Form | |
| 0.1% | 1.2% | 1.4% | N/A | ||
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For September
Provided by: Bank of Japan
0.1% (Apr), 0.4% (Mar) Prices for services acquired between businesses were down 0.1% on the year in September. On the month the index was down 0.4% for the second straight month of decline.Transportation is the largest component of this index, and was up 1.6% on the year. |
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Actual | Forecast | Previous | Revised Form | |
| 6.8% | 6.6% | 7.2% | N/A | ||
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For September
CGPI m/m: -0.4%, forecast -0.6%, pr. -0.1% (Aug), 2.0% (Jul), 0.8% (Jun),
Wholesale prices stabilized a bit in September. On the year prices are up 6.8% after August's annual rate came in at 7.2%. On the month prices were down 0.4%, reflecting the second straight month of declining prices. Expectations had prices falling even further. The main drivers of corporate prices, energy and raw materials seem to have peaked after the annual rate reached 7.3% in July, a 27-year high. |
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Actual | Forecast | Previous | Revised Form | |
| 1.4% | 1.2% | 1.3% | N/A | ||
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For August
CSPI m/m: -0.4%, pr. -0.1% (Jul), 0.5% (Jun), 0.3% (May), 0.1% (Apr), 0.4% (Mar) |
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Actual | Forecast | Previous | Revised Form | |
| 7.2% | 7.2% | 7.1% | N/A | ||
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For August
CGPI m/m: -0.1%, forecast 0.0%, pr. 2.0% (Jul), 0.8% (Jun), 1.1% (May),
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