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Japan’s producer prices rose for a third straight month in March, with year-on-year growth gaining traction even as prices edged lower from the previous month.

Japan’s producer price index rose 1.4 per cent year on year, the fastest rate since December 2014, according to the Bank of Japan. That growth was bolstered by a 4.2 per cent rise in export prices from March of 2016.

The annualised rise marks the third month out of contraction since producer prices snapped a 21-month streak of decline in January.

Month-on-month price trends were less encouraging, however, as growth edged lower to 0.2 per cent. While in line with a median forecast from economists surveyed by Reuters, the rate was well down from December’s recent peak of 0.7 per cent growth.

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