Economic news
Japan wholesale inflation perks up in Oct, complicates BOJ rate hike timing
2024.11.12 19:38
By Leika Kihara
TOKYO (Reuters) – Japan’s wholesale inflation accelerated in October as renewed yen falls pushed up import costs for some goods, data showed on Wednesday, complicating the central bank’s decision on how soon to raise interest rates.
The corporate goods price index (CGPI), which measures the price that companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% gain.
It followed a 3.1% increase in September.
The yen-based import price index fell 2.2% in October from a year earlier, less than the 2.5% drop in September, the data showed.
