Commodity prices, which have a major impact on price developments in Japan, have been on a rising trend, reflecting high growth in emerging economies. As a result, recent import prices have been about 10 percent above year-ago levels, after having plunged more than 30 percent year on year in summer 2009.
In addition, the domestic corporate goods price index (CGPI), which measures fluctuations in prices of goods traded between firms in Japan, has risen somewhat above levels for the same period a year ago.