Japan June services producer prices rise as Iran war keeps freight costs high
A businessman stands on a terrace overlooking a banking district in Tokyo, Japan, February 16, 2016. REUTERS/Thomas Peter
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
TOKYO, July 27 : Japan’s services producer price index rose 3.2 per cent in June from a year earlier, central bank data showed on Monday, a sign of broadening inflationary pressure that will keep alive market expectations for further interest rate hikes.
The annual rise in the index, which tracks the price companies charge each other for services, followed a revised 3.4 per cent gain in May.
The increase was driven by continued gains in transportation costs, which rose 5.3 per cent in June from a year earlier, as rising fuel prices and supply disruptions from the Middle East conflict kept ocean and air freight charges elevated, the data showed.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
