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Japan Sep Producer Price Drop Largest in Nearly 6 Yrs on Fuels
The corporate goods price index fell 3.9% in September for the sixth straight year-on-year drop after falling -3.6% in August due to a continued decline in electricity charges and fuel costs. It was the largest decrease since -5.0% in November 2009 and was also led by lower prices for chemicals, metal scrap and steel products. On the month, the CGPI fell 0.5% in September, the fourth straight drop after falling 0.6% in August. Prices of petroleum and coal products continued falling at a fast pace, down 26.9% on year in September vs. -26.6% in August. TAKEAWAY: The prospect for the BOJ anchoring 2% inflation ... (full story)