Japan's producer price index (PPI) rose 2.7% on year in September and gained 0.3% from the month prior, reported the Bank of Japan on Friday.

Pushing up the PPI in September were beverages and foods, up 4.7% on year, and transportation equipment, up 2.0%, among other items.

Agriculture products surged 30.5% in September, slower than previous month's growth of 41% while electric power, gas and water bills gained 0.7% compared with a 3.1% contraction in August.

The PPI measures prices at the factory gate, or those charged to businesses and distributors.

Japan's export price index, on a contract currency basis (generally, US dollars) slipped 0.2% on year in September, while the import price index fell 3.2% on year, added the Bank of Japan.