Japan Business Goods Price Index (CGPI) | Export price | Import price | 1960-2020 | Analysis | Chart
Published monthly by the Bank of Japan. Updated June 2021 (published July 12, 2020).
Brief overview of “CGPI”
The Business Goods Price Index (CGPI) published by the Bank of Japan measures changes in the prices of traded goods in the business sector. There are three indices, the producer price index, the export price index and the import price index. These can be broken down to product level.
One of the objectives of the index is to capture the conditions of supply and demand for individual goods, as well as to provide material for economic valuation and monetary policy decision-making.
Historically, the producer price index has been more volatile than the consumer price index (CPI). This means that companies haven’t passed much of the price changes to consumers.
The producer price index increased from 1973 to 1974 and peaked at 33.8% year-on-year due to the oil crisis of 1973. Subsequently, the index increased significantly again from 1979 to 1980 at 18.4% year-on-year due to the oil crisis of 1979. Between the years 1981-2019, the index remained relatively stable with a maximum of + 7.9% yoy and a minimum of -8.6 % in GA. During the same period, the index average was -0.2% year-on-year, signifying continued deflationary pressure in the Japanese economy.
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Year-on-year change in the ICGP and the CPI
Year-on-year change in the ICPC and the import price index
Source: BoJ, JMA
The next release date: 12 auguste, 2021.