11.4 C
New York
Monday, January 30, 2023

Japan December wholesale prices rise more than expected

Japan December wholesale prices rise more than expected
© Reuters. FILE PHOTO: A woman chooses products at a drug store in Tokyo, Japan January 10, 2023. REUTERS/Issei Kato/File Photo

By Leika Kihara

TOKYO (Reuters) – Japan’s wholesale prices rose a faster-than-expected 10.2% in December from a year earlier, data showed on Monday, adding to recent growing signs of inflationary pressure that could keep the central bank under pressure to raise interest rates.

The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 9.5% gain.

It followed a revised 9.7% increase in November, Bank of Japan (BOJ) data showed.

The yen-based import price index rose 22.8% in December from a year earlier, slowing from a revised 28.0% gain in November, in a sign the currency’s recent sharp ascent helped reduce the cost of importing fuel and raw material.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,268FansLike
12,893FollowersFollow
742FollowersFollow
- Advertisement -

Latest Articles

Popular Articles