Japan’s PPI increased 0.4% MoM (vs 0.2% MoM expected) and 4.2% YoY (vs 3.9% YoY expected) in March, increasing slightly from the February rate of 4.1% YoY.

• Export prices were up 0.2% MoM and 0.8% YoY, and in yen terms, they fell -0.7% MoM and were up 0.3% MoM.
• Import prices fell -0.2% MoM and -1.7% YoY, and in yen terms were down -1.6% MoM and -2.2% YoY.
• Prices for petroleum and coal products (+2.8% MoM) were the major reason for the rise in PPI.
• Textile products (+2.7% MoM) also saw a large increase, but that segment has one of the smallest weights.
• The largest decline was in PPI for production machinery, down -0.6% MoM but up 2.2% YoY.