Japan’s wholesale prices spike in July on higher energy costs, weak yen
Several flavours of corn snack are displayed at a confectionery wholesaler’s in Tokyo, Japan January 25, 2022. REUTERS/Akira Tomoshige/File Photo
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TOKYO, July 10 : Japan’s wholesale prices in June surged 7.1 per cent from a year earlier, accelerating from the previous month in a sign of mounting inflationary pressure from the energy shock caused by the Middle East conflict.
The rise in the producer price index was faster than the median market forecast for a 6.8 per cent increase and followed a revised 6.6 per cent increase in May.
The yen-based import price index in June rose 29.7 per cent from a year earlier, accelerating from a revised 26.1 per cent gain in May, data released by the Bank of Japan (BOJ) showed on Friday.
Source: Reuters
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