RTTNews reports that the Bank of Japan said that producer prices in Japan were up 0.7% on month in May. That exceeded expectations for an increase of 0.5% and was down from 0.9% in April.

On a yearly basis, producer prices climbed 4.9%, beating forecasts for 4.5% and up from 3.6% in the previous month.

The Bank of Japan said that export prices were up 1.0% on month and 11.0% on year, while import prices rose 2.2% on month and surged 25.4%on year.