TOKYO (AFX-ASIA) - Domestic wholesale prices in March fell 0.1 pct month-on-month, dragged down by falling prices of electric equipment, including microchips, the Bank of Japan said.
Electric equipment prices fell 0.4 pct month-on-month due to declines in prices for DRAM on slowing worldwide PC sales and flash memory on falling demand for mobile phones, mainly in the U.S., the BoJ said
Steel wholesale prices fell 0.3 pct month-on-month as cheap light-steel sheet from South Korea entered the Japanese market, it said.
Export and import prices rose in March in yen terms due to the fall in the value of the currency. The dollar averaged 121.07 yen in March compared with 116.17 the previous month.
Export prices on a contract currency basis fell 0.4 pct month-on-month and declined 3.6 year-on-year.
Export prices of electric equipment fell 0.7 pct month-on-month, due to falling demand for household goods in China, amid the U.S. economic slowdown, the BoJ said.
Import prices on a contract currency basis rose 0.3 pct month-on-month and fell 0.8 pct year-on-year.
Import prices of foodstuffs and feedstuffs rose 1.0 pct, led by the rising price of pork from the U.S. due to the foot-and-mouth disease outbreak in Europe, the BoJ said.
In the year to March 2001, domestic WPI was flat after falling 1.0 pct the previous year.