Japan’s corporate goods inflation has accelerated for the first time in three months, adding to evidence of persistent price pressures that support the case for a Bank of Japan interest rate increase next month.The measure of prices for goods traded between Japanese firms climbed 7.1% in October from a year earlier, accelerating from 6.8% in the previous month, the Bank of Japan reported Thursday. Economists had forecast the pace of gains to ease. On a monthly basis, prices climbed 0.7%, the fastest since May.The figures add to signs of persistent upward pressure on the cost of living as the Iran war takes a toll on the nation, which is heavily reliant on imports of oil, raw materials and food.
Japan’s producer prices pick up, backing case for another BOJ rate hike
Prices for goods traded between Japanese firms climbed 0.7% month on month in October, the fastest since May.
In brief
Japan’s corporate goods inflation has accelerated for the first time in three months, adding to evidence of persistent price pressures that support the case for a Bank of Japan interest rate increase next month.The measure of prices for goods traded between Japanese firms climbed 7.1% in October from a year earlier, accelerating from 6.8% in the previous month, the Bank of Japan reported Thursday. Economists had forecast the pace of gains to ease. On a monthly basis, prices climbed 0.7%, the fastest since May.The figures add to signs of persistent upward pressure on the cost of living as the Iran war takes a toll on the nation, which is heavily reliant on imports of oil, raw materials and…
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