Japan's corporate goods price index, which measures costs of goods traded between businesses, went up three percent year on year in July, the Bank of Japan (BOJ) said Tuesday.
According to preliminary figures from the BOJ, the producer price index stood at 123.1 against the 2020 base of 100, up 0.3 percent from that of June.
The pace of growth on year marked the sixth straight month of expansion, the central bank data showed.
Local analysts noted that the monthly increase was mostly due to the Japanese government's halted subsidies for electricity and city gas, while the weakening yen exerted upward pressure on import prices.
In breakdown, electricity, city gas, and water prices rose by 6.7 percent year on year and 4.4 percent month on month.
The biggest contributor to the increases in corporate prices for the month was the price of nonferrous metals, which rose 18.5 percent from a year earlier, while that for plastic products, other industrial products, and products from agriculture, forestry and the fisheries sector also saw increases.
The only category where prices fell year on year was wood and wood products.
Meanwhile, the yen-based import and export price indices both increased by 10.8 percent year on year for the month.
The corporate goods price index, one of the country's important inflation gauges, measures prices that companies charge each other for goods and services.
Japan's wholesale prices continue to rise in July
Japan's wholesale prices continue to rise in July
China has witnessed new progress in foreign trade across all regions, with its western region leading the country in import and export growth in the first eight months of this year, according to official data.
In the first seven months of this year, the foreign trade between south China's Guangxi Zhuang Autonomous Region and Vietnam, which share a long border, demonstrated robust growth, with imports and exports totaling 165.82 billion yuan (around 23.29 billion U.S. dollars), up 32 percent year on year.
Vietnam has become Guangxi's largest trading partner on a single-product economy basis.
"Guangxi and Vietnam enjoy geographical proximity with close economic and trade cooperation. Trade between Guangxi and Vietnam accounts for 16.1 percent of the total trade volume between China and Vietnam, representing a one percentage point increase compared with the same period last year. The recovery of global demand has revitalized growth in Vietnam's manufacturing sector, bringing an increased demand for related products from China," said Xu Jun, director of the statistical analysis department at the Nanning Customs in Nanning, capital of Guangxi.
The progress in coordinated regional development in China has solidified the bedrock of foreign trade.
In terms of regions, the eastern region stands as the cornerstone of China's foreign trade, while the central and western regions effectively absorb relocated industries. The imports and exports of the three northeastern provinces -- Liaoning, Jilin, and Heilongjiang -- have continuously hit new heights.
Meanwhile, major regional strategies such as the development of the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, and the Guangdong-Hong Kong-Macao Greater Bay Area have emerged as engines for foreign trade.
According to customs statistics, in the first eight months of this year, the imports and exports of China's western, eastern, and northeastern regions reached 2.59 trillion yuan (around 363.7 billion U.S. dollars), 22.94 trillion yuan (around 3.22 trillion U.S. dollars), and 825.93 billion yuan (around 115.99 billion U.S. dollars), respectively, marking year-on-year increases of 10.1 percent, 6.7 percent, and 2.2 percent, respectively.
During the same period, the imports and exports of the central region reached 2.23 trillion yuan (around 313.2 billion U.S. dollars), with the monthly import and export volume surpassing 300 billion yuan (around 42.13 billion U.S. dollars) for two consecutive months.
"During the first eight months, the western region led the country in import and export growth, continuously enhancing its level of opening up. Within this context, the private sector played a significant role, with exports of high-tech products from private enterprises in the western region -- such as specialized equipment, high-end equipment, biopharmaceuticals, and medical instruments -- all achieving double-digit growth," said Lyu Daliang, director of the Statistical Analysis Department under the General Administration of Customs.
China sees progress in foreign trade, with western region leading growth: data
