Japan's wholesale prices up 1.5%

Japan’s wholesale prices up 1.5%

Japan's wholesale prices for fiscal 2004 rose 1.5% year on year, the Bank of Japan said. This is the first increase since fiscal 1997. High oil prices coupled with increasing raw material prices, such as iron and steel, contributed to the rise in wholesale prices. Meanwhile, wholesale prices of March rose 1.4% year on year. The increase in March is mainly due to year-on-year price increases of 16.5% in petroleum and coal products and 6.8% in chemical products.