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Posted by Greg Michalowski on Tue, 05/13/2008 - 6:42pm in
The Japan Corporate Goods Price Index for the month of April is to be released at 7:50 PM EDT. The CGPI measures the rate of price change experienced by corporations when purchasing goods. Last month the CGPI increased by 0.5% for the month and was up 3.9% versus the previous year. The gain for the month was the highest since July 2007 and the 6th straight monthly increase. The year on year measure is also at high levels. The 3.9% increase was the highest level since February 1981. This month the expectation is for another increase of 0.5%. The year on year is expected to increase by 3.6%.
The higher inflation in Japan is slowing discretionary spending in Japan. As a result, the fear is for domestic demand to slow dramatically if inflation continues it’s increasing trend.
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