By Leika Kihara
TOKYO (Reuters) – Japan’s wholesale inflation accelerated in June because the yen’s declines pushed up the price of uncooked materials imports, knowledge confirmed on Wednesday, protecting alive market expectations for a near-term rate of interest hike by the central financial institution.
The company items value index (CGPI), which measures the value corporations cost one another for his or her items and providers, rose 2.9% in June from a yr earlier, Financial institution of Japan knowledge confirmed, matching a median market forecast and accelerating from the earlier month’s revised 2.6% achieve.
The yen-based import value index elevated 9.5% in June from a yr earlier, accelerating from a revised 7.1% rise in Might, in an indication the weakening foreign money was inflating the value corporations cost one another for imported uncooked materials.
