Abstract

The Bank of Japan has recently developed some of new indices in response to demand from Producer Price Index (PPI) statistics users. In this presentation, we present two of those indices, which have provided valuable information for the Bank’s monetary policy-making against the recent inflation surge. The new indices are developed in order to help statistical users better understand the underlying trends in Japan's inflation rate. In fact, these indices played a crucial role in understanding the underlying inflation trends and pass-through trends across sectors during the high inflation that has occurred since the COVID-19. I believe that our experience will bring very useful information to statistical agencies in other countries.