Japan wholesale inflation slowed sharply in Nov on easing cost pressure

A view of a vegetable stand with prices at a supermarket in Tokyo, Japan, March 24, 2023. REUTERS/Androniki Christodoulou/File photo

TOKYO  – Japan’s wholesale prices rose 0.3 percent in November from a year earlier, data showed on Tuesday, slowing sharply from the previous month in a sign of easing cost-push pressure in the world’s third-largest economy.

The rise in the corporate goods price index (CGPI), which measures the prices companies charge each other for their goods and services, compared with the median market forecast for a 0.1-percent increase and followed a 0.9-percent gain in October.

The data underscored the Bank of Japan’s view that wholesale inflation will continue to slow on falling commodity prices and the base effect of last year’s sharp rise in fuel costs.