Japan's wholesale inflation remains elevated, keeps alive BOJ rate-hike view
Tokyo, on October 13 - Wholesale inflation in Japan remains high, sustaining expectations of a potential interest rate increase from the Bank of Japan, according to recently released data. In September, prices increased by 6.8 percent year-over-year, driven by higher fuel and chemical costs being passed onto businesses. This figure surpasses the median forecast of a 7.6 percent rise and marks a 7.6 percent increase from the previous month.
The data will be considered by the Bank of Japan's board during their policy meeting this month when they release updated quarterly growth and inflation projections. A notable factor contributing to this inflation surge is the yen's weakened value, which has led to higher costs for raw materials imported into Japan.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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