Wholesale prices in April fell 0.8 percent from the year before for the 32nd consecutive month of decline, the Bank of Japan said in a preliminary report Wednesday.
The BOJ's corporate goods price index for April came to 95.2, against the base of 100 for 2000. The central bank began using the CGPI in December, in place of the wholesale prices index.
The CGPI allows the BOJ to monitor price changes in a wider range of goods, which makes for a more accurate measurement.
The April CGPI reading showed a decrease of 0.2 percent from March.
Wholesale prices fell notably in the electrical machinery and equipment sector, which showed a 6.9 percent drop from a year earlier. The sector includes electronics products such as computers.
The transportation equipment sector saw a 1.7 percent decline, reflecting price-cutting competition between automakers, the central bank said.
The nonferrous metals sector fell 3.8 percent. But wholesale prices jumped 10.1 percent in the petroleum and coal products sector.
Export prices for April fell 4.8 percent in yen terms from a year earlier, with the export prices index coming to 100.2. When measured in terms of contractual currencies, export prices for the month fell 1 percent.
Import prices dropped 1.1 percent in yen terms, with the corresponding index registering 102.6. In terms of contractual currencies, import prices rose 4.7 percent from a year earlier.
The dollar averaged 119.84 yen in April, down from 131.15 yen in April 2002.