TOKYO – Japan’s wholesale prices rose 7.2 percent 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-percent gain. It followed a revised 8.3 percent 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 program.
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Inflation in Japan’s capital slows for 2nd month, remains above BOJ target