(RTTNews) - Producer prices in Japan were up 3.7 percent on year in November, the Bank of Japan said on Wednesday.

That exceeded expectations for an increase of 3.4 percent and was up from the upwardly revised 3.6 percent gain in October (originally 3.4 percent).

On a monthly basis, producer prices were up 0.3 percent - unchanged from the October reading following an upward revision from 0.2 percent and exceeding expectations for 0.2 percent.

Export prices were up 0.2 percent on month and 0.7 percent on year, the bank said, while import prices slipped 0.5 percent on month and 2.8 percent on year.