Japan's wholesale inflation remains elevated, keeps alive BOJ rate-hike view
Japan's wholesale prices increased by 6.8% year-over-year in September as companies passed on higher fuel and chemical costs, according to data released Tuesday. This rise in wholesale prices indicates growing inflationary pressure that has kept alive expectations of a near-term interest rate hike from the Bank of Japan. The data will be considered alongside other factors when the central bank's board releases its quarterly growth and inflation forecasts at this month's policy meeting.
The corporate goods price index, which tracks the prices companies charge each other for goods and services, rose 6.8% in September, surpassing the median market forecast of a 7.6% increase. This follows a 7.6% rise in August. Meanwhile, the yen-based import price index jumped 24.5% in September from a year earlier, showing the impact of the weak currency on the cost of raw material imports.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
