Japan’s wholesale prices rose 1.3 percent in 2013 after declining 0.9 percent the previous year due to a weaker yen, which pushed up prices of oil and coal products, the Bank of Japan said Thursday.
The index of corporate goods prices stood at 101.9 against the 2010 base of 100, the central bank said in a preliminary report.
Prices of petroleum and coal products climbed 8.8 percent from a year earlier, and electricity, gas and water bills grew 8.4 percent due to higher import costs of such natural resources as the yen depreciated about 20 percent from a year before, a BOJ official said.
Also contributing to the overall price rise were prices of agriculture, forestry and fishery products, which rose 3.5 percent, due partly to higher import costs of pork and tight poultry supply caused by the summer heat waves that affected chicken farming.
Lumber and wood products prices were up 8.7 percent due to increased housing starts in both Japan and the United States, the official said.
Meanwhile, prices of electrical machinery and equipment fell 1.8 percent due to fierce price competition between manufacturers.
Japan’s export prices increased 11.6 percent from the previous year for the first rise in six years in yen terms but were down 1.9 percent on a contract currency basis.
Import prices gained 14.5 percent in yen terms but fell 1.7 percent on a contract currency basis.