Bank of Japan (BoJ) Corporate Goods Price Index y/y

Corporate Goods Price Index y/y from the Bank of Japan reflects the change in prices for domestic products in the given month compared to the same month of the previous year. This price index reflects the prices of commodities traded between companies. The index is calculated since January, 2003. It used to be called the wholesale price index.

Although the Bank of Japan is not a governmental administrative body, monetary policy is considered to belong to the administrative category, and is regarded as being in compliance with the Independent Administrative Committee.

While long-term price stability is macroeconomically important, the political sector tends to prefer to adopt a short-term approach, so autonomy from the perspective of long-term public interest security and political neutrality is recognized.

The Corporate Goods Price Index (CGPI) is an index that measures the change in selling prices of products purchased by Japanese companies. CPGI measures changes in inflation rates in Japan from the manufacturer's point of view and correlates with the Consumer Price Index (CPI).

There are a lot of major disasters in Japan, which can have strong impact on this index. Readings higher than expected are generally considered positive/bullish for JPY, while lower than expected reading are interpreted as negative/bearish for JPY.