The producer price index, which measures the prices companies charge each other for goods and services, jumped for the month mainly because materials and energy prices stayed high due to the weak yen, according to the preliminary BOJ report.
On a monthly basis, producer prices increased 0.7 percent compared to a revised 0.5 percent gain in April, the biggest climb since December 2022, the report said.
In May, producer prices grew for 394 of the 515 items surveyed and fell for 103.
By category, prices were up 6.8 percent for petroleum and coal products, reflecting the yen's weakening and higher crude oil prices, while nonferrous metal prices climbed 20.7 percent, lifted by higher copper prices.
Electricity, city gas and water rates fell 7.4 percent mainly because of fuel price falls in the past while the pace of decline slowed from 19.6 percent in April.
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