According to the report from Bank of Japan, producer prices were up 1.1% on year in January- in line with expectations and unchanged from the previous month.

On a monthly basis, producer prices sank 0.5% after sliding 0.1% in December.

Bank of Japan said, among the individual components prices were up for advertising, employment, accounting and architectural services. Prices were down for software development, air freight, communication, information and transportation services.