Corporate service prices down

JIJI

Corporate service prices in August fell 0.3 percent from a year before, dropping for the third straight month, the Bank of Japan said Tuesday.

The corporate service price index stood at 95.6 against 100 for the base year of 2005. In July, the index was down 0.3 percent.

The index fell 0.3 percent month on month in August after posting a 0.1 percent drop in the previous month, the BOJ said.

In August, the index for advertising service prices declined 1.1 percent year on year to 84.0, hitting the lowest level in 23 years, due chiefly to weak demand for newspaper ads.

Hotel charges rose 3.8 percent, but the size of increase narrowed from 4.6 percent in July.

Prices for temporary employment agency services were solid thanks to demand for developers of smartphone application software. The pace of falling office rent slowed.