Corporate service prices fell in March at their slowest pace in more than a year, backing up BOJ Policy Board members' views that deflationary pressure is easing.
The prices that firms pay for services such as transportation and advertisements slid 1.1 percent from a year earlier, the smallest decline since November 2008, the BOJ said Monday.
The drop in service prices has moderated since August as the export-led recovery spurs corporate profits, reducing the need for them to pare costs, according to economist Azusa Kato.
BOJ policy makers are expected to predict an end to consumer price declines for the year through March 2012 when they release their outlook report Friday.
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