TOKYO, May 14 (Xinhua) -- Japan's Corporate Goods Price Index (CGPI) rose 4.0 percent year-on-year to 126.3 in April, in line with private sector forecasts, data from the Bank of Japan showed Wednesday.
While the reading marked the fifth consecutive month with growth in the 4-percent range, the increase slowed from March's 4.3 percent.
Rising prices of agricultural, forestry, and fishery products, including rice and eggs, continued to exert upward pressure on the index.
In April, prices of agricultural, forestry, and fishery goods surged 42.2 percent compared to a year earlier, driven by soaring rice prices and a continued rise in egg prices due to avian flu.
Prices in the electricity, gas, and water supply sector rose 10.1 percent year-on-year, partly due to the reduction of government subsidies for utility bills. Food and beverage prices rose 3.6 percent, reflecting the cost pass-through of higher raw materials and logistics expenses.
Meanwhile, the import price index in yen terms fell 7.2 percent from the previous year, attributed to a stronger yen and falling crude oil prices.
The CGPI tracks the prices of goods traded between companies and influences consumer inflation alongside the Corporate Services Price Index. ■
