Japan wholesale inflation extends surge as energy shock hits
A member of the fish market staff checks the boxes of katsuo (shipjack tuna) before a wholesale auction at Kure Port, in Nakatosa Town, Kochi Prefecture, Japan, May 14, 2022. REUTERS/Kim Kyung-Hoon
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TOKYO, June 10 : Japan’s wholesale prices surged 6.3 per cent in the year to May, data showed on Wednesday, exceeding market expectations and highlighting mounting price pressures from the Middle East conflict.
The rise in the producer price index (CGPI), which measures the price companies charge each other for their goods and services, compared with the median market forecast for a 5.5 per cent increase and followed a revised 5.3 per cent increase in April.
The yen-based import price index rose 25.5 per cent in May from a year earlier after a revised 21.0 per cent increase in April, Bank of Japan data showed.
On a month-on-month basis, wholesale prices rose 0.9 per cent in May after a revised 2.8 per cent gain in April.
Source: Reuters
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