Economic Buzz: Japan's producer prices up 2.3% in April

Japan's producer price index (PPI) increased by 2.3% in April compared to the previous month, and was higher than expected, according to a report released by the Bank of Japan (BoJ) on Friday.

On an annual basis, the PPI increased by 4.9%, compared with a 2.6% rise seen in March.

The report also highlighted a 9.6% increase in Japan's export price index on a contractual currency basis over the year, with a 3.3% monthly rise. Meanwhile, import prices increased 7.9% from a year earlier and 4.9% compared with March.

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