Domestic wholesale prices fell 1 percent in June from a year earlier for the 34th consecutive month of decline, the Bank of Japan said Thursday.

The margin of decline remained the same as that in May, the BOJ said in a preliminary report.

The corporate goods price index for June came to 94.8, against the base of 100 for 2000, the central bank said.

Prices of electrical machinery and equipment fell 7.3 percent in the reporting month from a year before and utility prices 2.7 percent. Other decliners were transport equipment and nonferrous metals, which both dropped 1.9 percent.

On the other hand, prices of steel rose 6 percent and those of pulp and paper products 3.2 percent.

The June CGPI reading showed a decrease of 0.1 percent from May, down for the third straight month.

Wholesale prices of petroleum and coal products dropped 2.4 percent from the previous month.

Prices of electrical machinery and equipment fell 0.4 percent, mainly due to continued price declines for personal computers.

But prices of agricultural and fisheries products rose 2.3 percent from May, boosted by increases in pork prices.

Export prices for June fell 0.9 percent in yen terms from a year before, with the export price index coming to 99.9. When measured in terms of contractual currencies, export prices for the month fell 0.5 percent.

Import prices remained the same in yen terms from a year earlier, with the corresponding index registering 100.4. In terms of contractual currencies, import prices rose 2.1 percent from a year before.

The dollar averaged 118.34 yen in June, down from 123.54 yen in June 2002.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.