TOKYO, June 11 (Xinhua) -- Japan's Producer Price Index (PPI) for May rose 3.2 percent year-on-year, marking a slowdown from April's 4.1-percent increase, data from the Bank of Japan showed Wednesday.
This is the first time in six months that the growth rate has fallen to the 3-percent range as retreating prices for petroleum and coal products contributed to the drop.
The PPI reflects price movements of goods traded between companies and, alongside the Corporate Services Price Index, influences the Consumer Price Index (CPI).
In May, agricultural, forestry, and fishery products surged 42.8 percent year-on-year, still elevated due to factors such as soaring rice prices and the spread of avian influenza.
Prices for petroleum and coal products rose just 0.6 percent, a significant slowdown from April's 6.3 percent, as global crude oil prices declined.
Meanwhile, electricity, city gas, and water rates rose 6.5 percent, driven by the termination of government subsidies and an increase in renewable energy surcharges.
Out of 515 items tracked by the Bank of Japan, prices rose for 364 items and fell for 130. ■
