Japan’s September corporate services prices rise 3.7% yr/yr
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TOKYO, Oct 27 : A key gauge of Japan’s service-sector inflation rose 3.7 per cent in September from a year earlier, data showed on Tuesday, a sign of mounting price pressures that will likely keep the central bank on track for further interest rate hikes.
• The year-on-year rise in the services producer price index, which tracks the prices that companies charge each other for services, followed a revised 3.5 per cent gain in August, data from the Bank of Japan showed
• The data is closely watched by the BOJ for clues on the extent to which companies are passing on rising labour costs to service-related prices
• The BOJ is set to keep interest rates steady at 1.25 per cent in a two-day meeting concluding on Friday, but signal its readiness to continue raising borrowing costs on mounting price pressures
Source: Reuters
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