Japan March wholesale inflation slows for 3rd straight month
8:08 pm Tuesday, April 11th, 2023
TOKYO (Reuters) – Japan’s wholesale prices rose 7.2% in March from a year earlier, with the pace of increase slowing for the third straight month, data showed on Wednesday, offering some relief to households and firms hit by a steady rise in raw material costs.
The gain in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, was roughly in line with a median market forecast for a 7.1% gain. It followed a revised 8.3% increase in February.
Rising global commodity and fuel costs have pushed Japan’s wholesale and consumer inflation to multi-decade highs, heightening market expectations the Bank of Japan (BOJ) may soon phase out its massive stimulus programme.
(Reporting by Leika Kihara; Editing by Shri Navaratnam)
