Japan's producer price index (PPI) rose 3.8% on year in December 2024, maintaining the revised growth reading of 3.8% in November, based on preliminary figures reported by the Bank of Japan on Thursday.

On month-on-month basis, the index gained 0.3%.

Pushing up the PPI in December were electric power, gas and water, up 12.9% on year, and agriculture, forestry and fishery products, up 31.8%.

Beverage and foods' grew at a slower pace of 1.9% on year, compared with 2.1% in November, while transportation equipment grew steadily at 1.7% on year from 1.6% the month prior.

The PPI measures prices at the factory gate, or those charged to businesses and distributors. It is distinct from the consumer price index (CPI), which measures prices in retail locations.