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Channel NewsAsia
Channel NewsAsia
AsiaPac · 2 hrs ago
Japan's wholesale inflation hits 3-year high as fuel costs, weak yen bite
TOKYO, July 10 : Japan's wholesale inflation accelerated in June at the fastest pace in more than three years as firms aggressively passed on rising costs from the Middle East conflict, data showed on Friday, bolstering the case for further interest rate hikes.The data came in the wake of a Bank of Japan report on Thursday warning that the pass-through of input costs was proceeding at a faster pace than in the past, and could lead to higher consumer inflation later this year.The producer price index surged 7.1 per cent in June from a year earlier, BOJ data showed, exceeding the median market forecast for a 6.8 per cent increase and marking the fastest year-on-year rise since March 2023. It accelerated from a revised 6.6 per cent gain in May."Wholesale inflation will remain elevated with ne
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