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Japan producer prices edge up in May

Producer prices in Japan edged up 0.6% in May following a revised increase of 0.2% in April, preliminary figures from the Bank of Japan showed.

Petroleum and coal products made the largest upward contribution of 0.28% to the monthly rise, while general-purpose machinery as well as scrap and waste made the least contribution of 0.01%.

The annual producer price index increased 2.7% in May following a revised 2.1% growth in April.

On a constant currency basis, export prices rose 0.2% compared to the previous month and were up by 3.3% on an annual basis. Import prices increased 1.3% month over month and grew 8.1% on an annual basis.