Producer prices down for 10th month

Japan's Producer Price Index fell in December 2020 for the 10th straight month.

The Bank of Japan said on Thursday the index was down 2 percent from the same month of the previous year in the preliminary figures.

Crude-oil prices declined due to the pandemic, pushing down the prices of many items, including electric power, gas, products made from petroleum, and chemicals.

BOJ officials say crude oil is currently becoming more expensive, boosting producer prices, although the pandemic may limit the rise.