2025年5月,日本生产者价格指数同比上涨3.2%,低于4月份略微修正的4.1%的增长率,也未达到市场普遍预期的3.5%。这标志着生产者通胀进入第51个月,尽管这是自9月以来的最低水平。石油和煤炭(4月份为0.6%对6.3%)、生产机械(2.6%对2.8%)、塑料(3.4%对3.7%)和面向商业的机械(1.5%对1.8%)的成本有所下降。与此同时,化学品(-3.1%对-2.4%)和钢铁(-4.8%对-4.5%)的价格进一步下跌。此外,有色金属的成本在4月份上涨4.2%后下降了2.1%。相比之下,运输设备(1.7%)和其他制造业(2.9%)的通货膨胀保持稳定,而饮料和食品(4.2%对4.0%)、电机(3.8%对3.0%)、金属制品(4.8%对4.7%)、通用机械(4.9%对4.4%)和信息与通信(1.9%对1.5%)的价格加速上涨。按月计算,生产者价格指数下降0.2%,这是九个月来的首次下跌。
Producer prices in Japan rose 3.2% yoy in May 2025, slowing from a marginally revised 4.1% growth in April and missing market consensus of 3.5%. This marked the 51st month of producer inflation, though it was the lowest print since September. Cost eased for petroleum and coal (0.6% vs 6.3% in April), production machinery (2.6% vs 2.8%), plastics (3.4% vs 3.7%), and business-oriented machinery (1.5% vs 1.8%). At the same time, prices dropped further for chemicals (-3.1% vs -2.4%) and iron and steel (-4.8% vs -4.5%). Also, cost of non-ferrous metals fell 2.1%, after a 4.2% rise in April. In contrast, inflation was stable for transport equipment (1.7%) and other manufacturing (2.9%), while prices accelerated for beverages and foods (4.2% vs 4.0%), electrical machinery (3.8% vs 3.0%), metal products (4.8% vs 4.7%), general-purpose machinery (4.9% vs 4.4%), and information & communication (1.9% vs 1.5%). On a monthly basis, producer prices shrank 0.2%, marking the first fall in nine months.