Japan's September corporate services prices rise 3.7% yr/yr

Japan's September corporate services prices increased by 3.7% year-over-year, according to data released on Tuesday, indicating rising price pressures in the country's service sector. This increase follows a revised 3.5% rise in August, as reported by the Bank of Japan. The services producer price index, which tracks the prices companies charge each other for services, is a closely monitored metric by the BOJ to gauge the extent to which companies are passing on rising labor costs to service-related prices.

The central bank is currently maintaining interest rates at 1.25% during a two-day meeting concluding on Friday, but signals its readiness to continue raising borrowing costs amidst mounting price pressures.